https://www.taxtmi.com/caselaws?id=19057 Retrospective insertion of the Explanation to section 2(1A) by the Finance Act, with effect from 1 April 1970, displaced the Bombay High Court view relied on by the assessee and followed by the Tribunal. In consequence, that earlier authority could not govern the taxability of garden land situated within municipal limits. The stated conclusion was that the Tribunal was not justified in holding that no capital gains tax was leviable on the sale of the garden land. en-us Thu, 21 Jul 1994 00:00:00 +0530 Tue, 03 Nov 2009 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19057 Retrospective insertion of the Explanation to section 2(1A) by the Finance Act, with effect from 1 April 1970, displaced the Bombay High Court view relied on by the assessee and followed by the Tribunal. In consequence, that earlier authority could not govern the taxability of garden land situated within municipal limits. The stated conclusion was that the Tribunal was not justified in holding that no capital gains tax was leviable on the sale of the garden land. Case-Laws Income Tax Thu, 21 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19057