Agriculture land sold not a capital asset as located outside municipal limits & village population below threshold. No tax on gains.

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....Agriculture land sold by assessee not a capital asset u/s 2(14)(iii) as it was situated outside municipal limits of Mohali as per notification and population of village below prescribed threshold. Long term capital gains on sale of agriculture land, being not a capital asset, cannot be taxed. Addition made by AO deleted. Grounds allowed in favor of assessee.....