https://www.taxtmi.com/caselaws?id=29618 Land retained its agricultural character on the date of sale when revenue records described it as agricultural and no permission for conversion to non-agricultural use had been obtained under Section 65 of the Bombay Land Revenue Code. The presumption from the revenue entries was not displaced merely because the land had remained fallow, was located in a developed area, or fetched a high price. In the absence of clear evidence of preparation or intention to use the land for non-agricultural development, the surplus was treated as outside capital gains tax as agricultural land. en-us Thu, 12 Mar 1981 00:00:00 +0530 Mon, 15 Mar 2010 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29618 Land retained its agricultural character on the date of sale when revenue records described it as agricultural and no permission for conversion to non-agricultural use had been obtained under Section 65 of the Bombay Land Revenue Code. The presumption from the revenue entries was not displaced merely because the land had remained fallow, was located in a developed area, or fetched a high price. In the absence of clear evidence of preparation or intention to use the land for non-agricultural development, the surplus was treated as outside capital gains tax as agricultural land. Case-Laws Income Tax Thu, 12 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29618