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2018 (7) TMI 1413 - HC - Income TaxProfit on sale of land at Thalambur - agricultural land or capital asset - Assessing Officer admits utilization of the land for agricultural purposes - Held that:- Whether a land is an agricultural land or not is essentially a question of fact. Several tests have been evolved in the decisions of this Court and the High Courts, but all of them are more in the nature of guidelines. The question has to be answered in each case having regard to the facts and circumstances of that case. There may be factors both for and against a particular point of view. The Court has to answer the question on a consideration of all of them a process of evaluation. The inference has to be drawn on a cumulative consideration of all the relevant facts. The learned Tribunal, which is the highest fact finding body, having arrived at the factual finding that the land in question was agricultural land, the appeal cannot be entertained under Section 260A of the 1961 Act. An appeal lies under Section 260A of the 1961 Act, only when there is a substantial question of law. We find that there is no question of law involved in this appeal much less any substantial question of law. Right of appeal is not automatic. Right of appeal is conferred by statute. When statute confers a limited right of appeal restricted only to cases which involve substantial questions of law, it is not open to this Court to sit in appeal over the factual findings arrived at by the Appellate Tribunal. Appeal dismissed.
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