Agricultural Land Sale Not Considered Capital Asset Due to Lack of Conversion and Development Agreement.

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....Nature of land sold - agricultural land or capital asset - the land is not subjected to any conversion as non-agricultural land by the assessee or any other concerned person, transfers such agricultural land as it is and where it is basis, and also it is not the transfer of any share in the right in the development of such land through any joint development agreement - land in question cannot be treated as non-agricultural land - AT....