https://www.taxtmi.com/caselaws?id=300784 The Tribunal upheld the lower authorities' decision that the land sold by the assessee, despite being used for non-agricultural purposes post-sale, retained its agricultural land status. Relying on precedents, the Tribunal emphasized the land's continuous agricultural use until the sale date and lack of intent for non-agricultural conversion, exempting the assessee from capital gain tax liability. The Tribunal's detailed analysis affirmed the agricultural land classification, aligning with legal principles and distinguishing the case from instances where land lost its agricultural character. The judgment was delivered on 28th March 2014 by the Appellate Tribunal ITAT COCHIN. en-us Fri, 28 Mar 2014 00:00:00 +0530 Thu, 24 Feb 2022 11:14:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300784 The Tribunal upheld the lower authorities' decision that the land sold by the assessee, despite being used for non-agricultural purposes post-sale, retained its agricultural land status. Relying on precedents, the Tribunal emphasized the land's continuous agricultural use until the sale date and lack of intent for non-agricultural conversion, exempting the assessee from capital gain tax liability. The Tribunal's detailed analysis affirmed the agricultural land classification, aligning with legal principles and distinguishing the case from instances where land lost its agricultural character. The judgment was delivered on 28th March 2014 by the Appellate Tribunal ITAT COCHIN. Case-Laws Income Tax Fri, 28 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300784