https://www.taxtmi.com/highlights?id=60660 Capital gain on sale of land - Nature of land sold - agricultural land - calculation of shortest route - , although there is no doubt that conflicting reports were issued by these authorities, but the conclusive report dated 14.12.2012 made it very clear that there are three road routes to reach the land in question, while the shortest road route is from Main Mirzapur Road , and the distance of Aarzai No. 318 is only 7.800 Kms., which is well within 8 kms. - The land in question is within 8kms from the Municipal limits and is a capital asset as defined u/s 2(14) and capital gains arising on the sale of land shall be chargeable to income-tax - AT en-us Fri, 26 Nov 2021 20:28:27 +0530 Fri, 26 Nov 2021 20:28:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60660 Capital gain on sale of land - Nature of land sold - agricultural land - calculation of shortest route - , although there is no doubt that conflicting reports were issued by these authorities, but the conclusive report dated 14.12.2012 made it very clear that there are three road routes to reach the land in question, while the shortest road route is from Main Mirzapur Road , and the distance of Aarzai No. 318 is only 7.800 Kms., which is well within 8 kms. - The land in question is within 8kms from the Municipal limits and is a capital asset as defined u/s 2(14) and capital gains arising on the sale of land shall be chargeable to income-tax - AT Highlights Income Tax Fri, 26 Nov 2021 20:28:27 +0530 https://www.taxtmi.com/highlights?id=60660