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2010 (10) TMI 1082 - AT - Income TaxChargeability of capital gain on sale of an agricultural land - nature of land sold - whether impugned land fall outside the radius of 8 kms. from the municipality limit of the Visakhapatnam Municipality? - Agricultural land or not? - HELD THAT:- Undisputedly the impugned land was initially situated beyond the 8 kms. from the municipality limit of Visakhapatnam Municipal Corporation. But later on, on incorporation of Greater Visakhapatnam Municipal Corporation, it falls within the 8 kms. from the municipal limit. But no notification as required u/s 2(14)(iii)(b) of the I.T. Act was issued in the Official Gazette by the Central Government. This issue was examined by us in the case of SMT. C. GIRIJA VERSUS ACIT [2010 (9) TMI 1133 - ITAT VISHAKAPATNAM] in which we have given a categorical finding that to bring a land within the purview of clause (b) of section 2(14)(iii), the Central Government is required to issue a notification in the Official Gazette and without a notification a land falls within the 8 kms. from the local limit of any municipality would not cease to be an agricultural land. Appeal of Revenue dismissed.
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