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2014 (5) TMI 320 - GUJARAT HIGH COURTExemption u/s 10(37) - Whether the section require that the assessee should himself carry out the agricultural activities on the land - Assessee contended that as per section 10(37) r.w.s. 45(5), no capital gain tax was payable as also allowed by ITAT - Held that:- Following Commissioner of Income Tax Versus Amrutbhai S. Patel [2013 (5) TMI 449 - GUJARAT HIGH COURT] - CIT (A) held against the assessee was staying away from the agricultural land and that he was otherwise engaged in a business - neither of the two facts, either in isolation or cumulatively, would be sufficient to hold that the land was not being used for agricultural purposes by the assessee - 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 - The Tribunal had recorded that in the earlier years, the assessee had declared agricultural income, which was also accepted by the Revenue – no substantial question of law arises for consideration – Decided against Revenue.
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