https://www.taxtmi.com/caselaws?id=292948 Agricultural land sold by the assessee was held to fall outside section 2(14)(iii)(b) because the record did not prove that it lay within the prescribed municipal distance on a reliable road or surface basis. The Tribunal rejected reliance on administrative communications and internet location references as insufficient statutory proof of distance. It also accepted that the land retained its agricultural character and had not been converted to non-agricultural use before sale. The aerial-distance amendment introduced by the Finance Act, 2013 was treated as prospective only, so the long-term capital gain addition could not be sustained and was deleted. en-us Fri, 25 Jan 2019 00:00:00 +0530 Wed, 13 Nov 2024 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292948 Agricultural land sold by the assessee was held to fall outside section 2(14)(iii)(b) because the record did not prove that it lay within the prescribed municipal distance on a reliable road or surface basis. The Tribunal rejected reliance on administrative communications and internet location references as insufficient statutory proof of distance. It also accepted that the land retained its agricultural character and had not been converted to non-agricultural use before sale. The aerial-distance amendment introduced by the Finance Act, 2013 was treated as prospective only, so the long-term capital gain addition could not be sustained and was deleted. Case-Laws Income Tax Fri, 25 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292948