https://www.taxtmi.com/caselaws?id=26505 The court dismissed the writ petition challenging the validity of Section 2(14)(iii) of the Income-tax Act, 1961, holding that the Union Parliament had the legislative competence to enact the provision. The court rejected the argument that income from the sale of lands used for agricultural purposes fell exclusively within the purview of the States. The court clarified the interpretation of "agricultural income" under the Constitution and concluded that the distinction between agricultural land and land used for agricultural purposes did not affect the taxability of gains from capital assets. en-us Mon, 24 Mar 1986 00:00:00 +0530 Fri, 05 Feb 2010 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26505 The court dismissed the writ petition challenging the validity of Section 2(14)(iii) of the Income-tax Act, 1961, holding that the Union Parliament had the legislative competence to enact the provision. The court rejected the argument that income from the sale of lands used for agricultural purposes fell exclusively within the purview of the States. The court clarified the interpretation of "agricultural income" under the Constitution and concluded that the distinction between agricultural land and land used for agricultural purposes did not affect the taxability of gains from capital assets. Case-Laws Income Tax Mon, 24 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26505