https://www.taxtmi.com/caselaws?id=295002 The Tribunal held that the land sold by the assessee qualifies as a capital asset under section 2(14) of the Income-Tax Act, 1961, due to its proximity to NMMC. The Tribunal reversed the CIT(A)'s decision and upheld the AO's calculation of Long-Term Capital Gains (LTCG) at Rs. 2.57 crores. The AO's appeal was allowed, and the decision was pronounced on 3rd July 2015. en-us Fri, 03 Jul 2015 00:00:00 +0530 Sat, 15 May 2021 08:25:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295002 The Tribunal held that the land sold by the assessee qualifies as a capital asset under section 2(14) of the Income-Tax Act, 1961, due to its proximity to NMMC. The Tribunal reversed the CIT(A)'s decision and upheld the AO's calculation of Long-Term Capital Gains (LTCG) at Rs. 2.57 crores. The AO's appeal was allowed, and the decision was pronounced on 3rd July 2015. Case-Laws Income Tax Fri, 03 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295002