https://www.taxtmi.com/caselaws?id=21276 The High Court held that the sold land, even if agricultural, within corporation limits attracts capital gains tax. The Tribunal's remand order was deemed futile as the land's character did not exempt it from tax. The High Court ruled in favor of the Revenue, stating that capital gains on land within corporation limits are subject to income tax, regardless of agricultural status. en-us Thu, 04 Jun 1992 00:00:00 +0530 Sat, 21 Nov 2009 12:04:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21276 The High Court held that the sold land, even if agricultural, within corporation limits attracts capital gains tax. The Tribunal's remand order was deemed futile as the land's character did not exempt it from tax. The High Court ruled in favor of the Revenue, stating that capital gains on land within corporation limits are subject to income tax, regardless of agricultural status. Case-Laws Income Tax Thu, 04 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21276