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2017 (6) TMI 240 - AT - Income TaxSale of land - capital asset - exemption from tax on sale of agricultural land calimed - LTCG on sale of land - nture of land sold - land beyond 8 kms from any municipality - Held that:- Respectfully following the decision of the Hon’ble Punjab and Haryana High Court in the case of Smt. Anjana Sehgal [2011 (3) TMI 695 - PUNJAB AND HARYANA HIGH COURT] we hold that for claiming the agriculture land as not a capital asset, the land in question should be beyond 8 kms from any municipality and not only from the jurisdictional municipality. Accordingly, the order of the Ld. CIT-A on the issue in dispute is set aside and ground of the appeal of the Revenue is allowed.
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