https://www.taxtmi.com/caselaws?id=55734 The tribunal partly allowed the appeal, upholding the exemption under section 54B based on the agricultural use of land but rejecting the claim related to development charges and investment in agricultural land for capital gains tax exemption. The judgment provided detailed analysis on the interpretation of legal provisions under sections 54B and 48 of the Income-tax Act, emphasizing the distinction between agricultural purpose and agricultural land, and the eligibility criteria for tax exemptions in capital gains tax assessment. en-us Thu, 31 Jul 1986 00:00:00 +0530 Mon, 29 Nov 2010 17:17:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55734 The tribunal partly allowed the appeal, upholding the exemption under section 54B based on the agricultural use of land but rejecting the claim related to development charges and investment in agricultural land for capital gains tax exemption. The judgment provided detailed analysis on the interpretation of legal provisions under sections 54B and 48 of the Income-tax Act, emphasizing the distinction between agricultural purpose and agricultural land, and the eligibility criteria for tax exemptions in capital gains tax assessment. Case-Laws Income Tax Thu, 31 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55734