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Court Rules Land Not Agricultural for Capital Gains Tax; Classified as Commercial in Deed and Form 1B.

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....Computation of capital gain - Capital asset or agricultural land - tax authorities have pointed out that the assessees themselves has described the impugned land as “Stadium land“ in the conveyance deed and further in the Form 1B annexed to the conveyance deed, the impugned land was described as “Commercial land“ - decided against the assessee - AT....

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Court Rules Land Not Agricultural for Capital Gains Tax; Classified as Commercial in Deed and Form 1B.