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2014 (4) TMI 564 - HC - Income TaxExemption from payment of capital gain u/s 10(37) of the Act - Compensation received as compulsory acquisition of agricultural land – Held that:- The decision in Commissioner of Income Tax Versus Amrutbhai S. Patel [2013 (5) TMI 449 - GUJARAT HIGH COURT] followed - neither of the two facts, either in isolation or cumulatively, would be sufficient to hold that such land was not being used for agricultural purposes by the assessee - The concept of personal cultivation as accepted in agricultural land tenancy laws also recognizes, as can be seen from the statutory provisions contained in the Bombay Tenancy and Agricultural Lands Act, 1948, cultivation of a land through hired labourer or through member of ones family - Merely because the assessee was not residing close to the land or was also pursuing some other business would not by itself be sufficient to hold that the land was not used for agricultural purposes by the assessee - in the earlier years, the assessee had declared agricultural income, which was also accepted by the Revenue – thus, the order of the Tribunal is upheld as no question of law arises for consideration – Decided against Revenue.
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