https://www.taxtmi.com/caselaws?id=22743 The Kerala High Court treated consideration from the sale of urban agricultural land as liable to capital gains tax. It followed its earlier Division Bench view and relied on the retrospective amendment to section 2(14) of the Income-tax Act, 1961 by section 3 of the Finance Act, 1989, which brought such land within the charging provision. On that basis, the taxability of these transactions was held to be clear, and the issue was answered in favour of the Revenue. en-us Tue, 25 Sep 1990 00:00:00 +0530 Sat, 12 Dec 2009 16:06:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22743 The Kerala High Court treated consideration from the sale of urban agricultural land as liable to capital gains tax. It followed its earlier Division Bench view and relied on the retrospective amendment to section 2(14) of the Income-tax Act, 1961 by section 3 of the Finance Act, 1989, which brought such land within the charging provision. On that basis, the taxability of these transactions was held to be clear, and the issue was answered in favour of the Revenue. Case-Laws Income Tax Tue, 25 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22743