https://www.taxtmi.com/caselaws?id=27210 The court upheld the Tribunal's decision that the land sold by the assessee did not qualify as agricultural land exempt from capital gains tax under section 2(14)(iii) of the Income-tax Act, 1961. Despite challenges regarding the location of the land in an urban area and the high sale price, the court emphasized the importance of substantial evidence of actual agricultural use to determine land classification. The decision highlighted the need for concrete proof of agricultural activities to support claims of land being classified as agricultural, irrespective of its location or sale value. en-us Thu, 07 Aug 1980 00:00:00 +0530 Thu, 11 Feb 2010 15:16:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27210 The court upheld the Tribunal's decision that the land sold by the assessee did not qualify as agricultural land exempt from capital gains tax under section 2(14)(iii) of the Income-tax Act, 1961. Despite challenges regarding the location of the land in an urban area and the high sale price, the court emphasized the importance of substantial evidence of actual agricultural use to determine land classification. The decision highlighted the need for concrete proof of agricultural activities to support claims of land being classified as agricultural, irrespective of its location or sale value. Case-Laws Income Tax Thu, 07 Aug 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27210