https://www.taxtmi.com/caselaws?id=426284 Whether land qualifies as agricultural land depends on a cumulative assessment of all relevant facts and surrounding circumstances, including revenue classification, actual use, development around the property, the nature of the purchaser, the price fetched, and the parties' conduct. Revenue records and an assertion of agricultural use are not decisive if the overall evidence indicates a non-agricultural character. Applying these settled tests to the same jointly owned suburban property, and finding no material difference from the earlier co-owner's case, the land was treated as non-agricultural and the long-term capital gains addition was sustained. en-us Wed, 03 Aug 2022 00:00:00 +0530 Fri, 12 Aug 2022 08:31:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426284 Whether land qualifies as agricultural land depends on a cumulative assessment of all relevant facts and surrounding circumstances, including revenue classification, actual use, development around the property, the nature of the purchaser, the price fetched, and the parties' conduct. Revenue records and an assertion of agricultural use are not decisive if the overall evidence indicates a non-agricultural character. Applying these settled tests to the same jointly owned suburban property, and finding no material difference from the earlier co-owner's case, the land was treated as non-agricultural and the long-term capital gains addition was sustained. Case-Laws Income Tax Wed, 03 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426284