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2012 (11) TMI 179 - AT - Income TaxSale of agricultural land – alleged that agricultural land sold by the assessee on 28.1.2005 was liable for capital gains in accordance with the provisions of section 2(14)(iii) of the Act as it was located within the municipal limits of Bommanahalli municipality – Held that:- In the view of Central Government Notification No.9447/F.No. 164/3/87/ITA-I dt.6.1.1994 in which it is seen that Bommanahalli Municipal Corporation is not a notified corporation and by the certificate dt.4.10.2010 issued by the Gram Panchayat which states that the distance from the village in which the agricultural land is situated is more than 8 kms from the BBMP limits - in favour of the assessee
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