https://www.taxtmi.com/caselaws?id=29221 Land sold by the assessee was treated as agricultural land for capital gains purposes because its character had to be assessed on the totality of relevant facts, not any single factor. Revenue records, actual agricultural use for about three years, absence of conversion to other use, location outside municipal limits, and lack of reliable evidence of surrounding development supported agricultural character. Permission to sell to a housing society and later permission for non-agricultural use did not, by themselves, change the nature of the land before sale. The surplus on transfer was therefore not chargeable to capital gains tax. en-us Fri, 18 Sep 1981 00:00:00 +0530 Sat, 01 Nov 2025 18:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29221 Land sold by the assessee was treated as agricultural land for capital gains purposes because its character had to be assessed on the totality of relevant facts, not any single factor. Revenue records, actual agricultural use for about three years, absence of conversion to other use, location outside municipal limits, and lack of reliable evidence of surrounding development supported agricultural character. Permission to sell to a housing society and later permission for non-agricultural use did not, by themselves, change the nature of the land before sale. The surplus on transfer was therefore not chargeable to capital gains tax. Case-Laws Income Tax Fri, 18 Sep 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29221