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2011 (10) TMI 618 - AT - Income TaxSale of land - addition by treating the sale of agricultural land to be capital asset u/s 2(14)(iii)(b) on the ground that it was within the distance of 8 kms from Municipal limits and thereby levying short term capital gains tax on the same - Held that:- In the remand report, the Assessing Officer submitted that as per the report received by him from the Divisional Engineer, Highways Department, Coimbatore, the agricultural land in question was 8.112 kms away from the municipal limits of Coimbatore municipality. In view of this, the ld. CIT(A) deleted the addition by observing that agricultural land in question was not a capital asset. Before us, the ld. D.R. could not point out any error in the order of the ld. CIT(A). In the absence of any material brought before us to show that agricultural land in question was a capital asset within the meaning of section 2(14) of the Act, we do not find any good reason to interfere with the order of the ld. CIT(A). It is confirmed. Ground of appeal of the department is dismissed.
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