https://www.taxtmi.com/caselaws?id=23232 Capital gains tax was held leviable on the sale of the land because the Tribunal's view that no tax was chargeable was inconsistent with earlier court decisions and with the retrospective amendment to the definition of "capital asset" under section 2(14) of the Income-tax Act, 1961. The land was claimed to be agricultural land, but that contention failed in light of the amended statutory definition, and the assessee's challenge was rejected. en-us Wed, 05 Jul 1989 00:00:00 +0530 Thu, 17 Dec 2009 16:43:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23232 Capital gains tax was held leviable on the sale of the land because the Tribunal's view that no tax was chargeable was inconsistent with earlier court decisions and with the retrospective amendment to the definition of "capital asset" under section 2(14) of the Income-tax Act, 1961. The land was claimed to be agricultural land, but that contention failed in light of the amended statutory definition, and the assessee's challenge was rejected. Case-Laws Income Tax Wed, 05 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23232