2013 (7) TMI 1184

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....HIEF JUSTICE SRI KALYAN JYOTI SENGUPTA This appeal is preferred against the judgment and order of the learned Tribunal dated 12.12.2012 and is sought to be admitted on the following suggested questions of law: (i) In the facts and circumstances of the case, whether the Hon'ble Tribunal (ITAT) is correct in law in holding that the land sold by the respondent-assessee do not come within ....

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....at the land in question at the time of transfer did not lose the character of agricultural one. Further, it was held on fact that the Hyderabad Airport Development Authority(HADA) is not a local body. It was further held that the land in question was not a capital asset as defined under Section 2(14)(iii) of the Act. Section 2(14) (iii)(a) and (b) reads as follows: "(iii) agricultural ....