https://www.taxtmi.com/caselaws?id=752640 The ITAT Cochin ruled on capital gains treatment for land sale, focusing on whether land qualified as agricultural based on distance from municipality limits. The tribunal held that distance measurement from agricultural land to Angamally Municipality boundaries must be calculated using longitude and latitude coordinates through multiple points, as municipal limits are non-linear. If any point falls within 2 km, the land loses agricultural exemption. The AO was directed to obtain coordinates from KSREC for precise measurement. For contiguous land, distance should be measured from boundaries; segregated portions require separate assessment. The burden of proof lies with the assessee, though AO can verify and seek expert opinion if disagreeing. Revenue's appeal was allowed. en-us Fri, 03 May 2024 00:00:00 +0530 Wed, 15 May 2024 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752640 The ITAT Cochin ruled on capital gains treatment for land sale, focusing on whether land qualified as agricultural based on distance from municipality limits. The tribunal held that distance measurement from agricultural land to Angamally Municipality boundaries must be calculated using longitude and latitude coordinates through multiple points, as municipal limits are non-linear. If any point falls within 2 km, the land loses agricultural exemption. The AO was directed to obtain coordinates from KSREC for precise measurement. For contiguous land, distance should be measured from boundaries; segregated portions require separate assessment. The burden of proof lies with the assessee, though AO can verify and seek expert opinion if disagreeing. Revenue's appeal was allowed. Case-Laws Income Tax Fri, 03 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752640