Agricultural land sale gains denied tax exemption as lands held as investment, not capital asset, u/s 2(14).

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....Gain arising on sale of agricultural land - exemption u/s 2(14) denied - assessee has held the impugned agricultural lands as investment only and not as stock in trade, and hence they cannot be categorized as “Capital asset” within the meaning of sec. 2(14) of the Act - AT....