1995 (2) TMI 42

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lowing three questions of law arising out of its order dated March 31, 1987, in respect of the assessment year 1981-82 under section 256(1) of the Income-tax Act, 1961 : " 1. Whether the learned Tribunal was right in law in holding that gain on sale of agricultural land was not agricultural income liable to tax under the Income-tax Act, 1961? 2. Whether the learned Tribunal was right in law in u....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....omputed by the Income-tax Officer as the land was situated within eight kilometres from the municipal limits in accordance with the provisions of section 2(14) of the Income-tax Act. The Income-tax Appellate Tribunal relied on its decision of ITO v. Smt. Gorja Devi Lila [1984] TW (4) 18 and sent the matter back to the Income-tax Officer for fresh decision after taking into consideration the use fo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... was mentioned : " For the removal of doubts, it is hereby declared that the revenue derived from land shall not include and shall be deemed never to have included any income arising from the transfer of any land referred to in item (a) or item (b) of sub-clause (iii) of clause 14 of this section ". Sub-clause (iii) of section 2(14) was also inserted with effect from April 1, 1970, and agricultura....