https://www.taxtmi.com/caselaws?id=795805 For capital-gains valuation, the recorded agricultural character of land at the time of transfer governs unless lawful conversion to residential use is established. Unauthorised nearby residential development, non-cultivation, or acquisition status does not by itself change that character; a residential circle rate is therefore inapplicable where residential construction is not permitted. An outstanding trade creditor is not taxable as remission or cessation where the liability is genuinely repaid through account-payee cheques and no benefit accrues to the taxpayer. Dissolution of the creditor firm alone does not establish taxable cessation when the underlying purchases and subsequent repayment are accepted. en-us Wed, 17 Jun 2026 00:00:00 +0530 Tue, 28 Jul 2026 08:30:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795805 For capital-gains valuation, the recorded agricultural character of land at the time of transfer governs unless lawful conversion to residential use is established. Unauthorised nearby residential development, non-cultivation, or acquisition status does not by itself change that character; a residential circle rate is therefore inapplicable where residential construction is not permitted. An outstanding trade creditor is not taxable as remission or cessation where the liability is genuinely repaid through account-payee cheques and no benefit accrues to the taxpayer. Dissolution of the creditor firm alone does not establish taxable cessation when the underlying purchases and subsequent repayment are accepted. Case-Laws Income Tax Wed, 17 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795805