https://www.taxtmi.com/caselaws?id=782796 Agricultural land supported by revenue records, a Tahsildar's certificate and the sale agreement was treated as remaining agricultural in character, situated beyond 8 kilometres from municipal limits and not converted for non-agricultural use. On those facts, it fell outside the definition of "capital asset" under section 2(14) of the Income-tax Act, so no capital gains tax arose on its transfer. The same factual position was not displaced by any contrary material from the Revenue, and the issue was also consistent with an earlier coordinate bench view on identical facts. As a result, the deeming fiction under section 50C was held inapplicable. en-us Tue, 30 Sep 2025 00:00:00 +0530 Thu, 27 Nov 2025 11:29:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782796 Agricultural land supported by revenue records, a Tahsildar's certificate and the sale agreement was treated as remaining agricultural in character, situated beyond 8 kilometres from municipal limits and not converted for non-agricultural use. On those facts, it fell outside the definition of "capital asset" under section 2(14) of the Income-tax Act, so no capital gains tax arose on its transfer. The same factual position was not displaced by any contrary material from the Revenue, and the issue was also consistent with an earlier coordinate bench view on identical facts. As a result, the deeming fiction under section 50C was held inapplicable. Case-Laws Income Tax Tue, 30 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782796