https://www.taxtmi.com/caselaws?id=36004 Lands shown as agricultural in revenue records and actually used for cultivation up to shortly before sale retained their agricultural character, because no conversion permission under the Bombay Land Revenue Code had been obtained. Surrounding urban development, municipal inclusion, town planning measures, and the purchasers' intended residential use were insufficient to displace the presumption arising from actual user and revenue entries. On those facts, the surplus on transfer was not chargeable to capital gains, as the land was treated as agricultural on the dates of sale. en-us Fri, 27 Feb 1981 00:00:00 +0530 Thu, 18 Mar 2010 17:39:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36004 Lands shown as agricultural in revenue records and actually used for cultivation up to shortly before sale retained their agricultural character, because no conversion permission under the Bombay Land Revenue Code had been obtained. Surrounding urban development, municipal inclusion, town planning measures, and the purchasers' intended residential use were insufficient to displace the presumption arising from actual user and revenue entries. On those facts, the surplus on transfer was not chargeable to capital gains, as the land was treated as agricultural on the dates of sale. Case-Laws Income Tax Fri, 27 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36004