2013 (12) TMI 1709 - ITAT KOLKATA - Income Tax

Extract:
....... was transferred by the assessee, was an agricultural land and it did not fall within the ambit of ‘capital asset’ under sect ion 2(14) of the Income Tax Act. Accordingly we confirm the order of ld. CIT(Appeals). 8. In the result, appeal filed by Revenue stands dismissed. Order pronounced in the open court on 23rd day of December, 2013.