https://www.taxtmi.com/caselaws?id=418895 The Kerala High Court upheld the Tribunal's decision that the land sold was agricultural at the time of sale, not subject to capital gains tax. The Court emphasized that land classification hinges on factual circumstances, noting the land's agricultural use and classification in revenue records. The intended industrial estate use by KSIDC was deemed irrelevant. The Revenue's appeal was dismissed, affirming the land's agricultural status and exemption from capital gains tax. en-us Thu, 28 Oct 2021 00:00:00 +0530 Fri, 25 Feb 2022 21:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418895 The Kerala High Court upheld the Tribunal's decision that the land sold was agricultural at the time of sale, not subject to capital gains tax. The Court emphasized that land classification hinges on factual circumstances, noting the land's agricultural use and classification in revenue records. The intended industrial estate use by KSIDC was deemed irrelevant. The Revenue's appeal was dismissed, affirming the land's agricultural status and exemption from capital gains tax. Case-Laws Income Tax Thu, 28 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418895