https://www.taxtmi.com/caselaws?id=38114 The High Court ruled in favor of the assessee, holding that the disputed land was agricultural and not subject to capital gains tax. The Court emphasized the continuous agricultural use of the land over the years, stating that actual agricultural use at the time of sale is crucial in determining the land's classification. The Court highlighted that unless there is concrete evidence proving otherwise, the presumption of agricultural land status prevails. The Commissioner was directed to cover the costs of the reference. en-us Wed, 14 Apr 1976 00:00:00 +0530 Sat, 03 Apr 2010 12:33:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38114 The High Court ruled in favor of the assessee, holding that the disputed land was agricultural and not subject to capital gains tax. The Court emphasized the continuous agricultural use of the land over the years, stating that actual agricultural use at the time of sale is crucial in determining the land's classification. The Court highlighted that unless there is concrete evidence proving otherwise, the presumption of agricultural land status prevails. The Commissioner was directed to cover the costs of the reference. Case-Laws Income Tax Wed, 14 Apr 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38114