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2012 (8) TMI 129 - KARNATAKA HIGH COURT
Capital gain – sale of agricultural land - assessee contended that land not coming either within the limits of any municipality or within the distance of 8 kms, from any notified municipality or urban area – Held that:- Land is not located within the limits of Dasarahalli City Municipal Council therefore, Clause (a) to section 2(14)(iii) of the Act is not attracted - it cannot be looked in as a capital asset within the meaning of Section 2(14)(iii)(b) of the Act also – In favor of assessee