https://www.taxtmi.com/caselaws?id=768288 The ITAT Jodhpur held that land sold by the assessee qualified as a capital asset under section 2(14) as it was situated beyond municipal limits of Sardarsahar. The AO had made an addition to income treating the land as within municipal limits based on a letter dated 24.08.2016. However, a subsequent letter dated 04.04.2019 clarified that the earlier letter was issued without considering the Rajasthan State Gazette dated 14.07.1988, which established municipal boundary limits under the Rajasthan Nagar Palika Act, 1959. The ITAT set aside both the AO's order and CIT(A)'s confirmation, allowing the assessee's appeal and removing the capital gains tax addition. en-us Wed, 01 Jan 2025 00:00:00 +0530 Wed, 02 Apr 2025 16:04:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768288 The ITAT Jodhpur held that land sold by the assessee qualified as a capital asset under section 2(14) as it was situated beyond municipal limits of Sardarsahar. The AO had made an addition to income treating the land as within municipal limits based on a letter dated 24.08.2016. However, a subsequent letter dated 04.04.2019 clarified that the earlier letter was issued without considering the Rajasthan State Gazette dated 14.07.1988, which established municipal boundary limits under the Rajasthan Nagar Palika Act, 1959. The ITAT set aside both the AO's order and CIT(A)'s confirmation, allowing the assessee's appeal and removing the capital gains tax addition. Case-Laws Income Tax Wed, 01 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768288