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2019 (8) TMI 733 - HC - Income TaxCapital asset” u/s 2(14) - agricultural land - scope of word “any municipality” used in definition - HELD THAT:- Contention of the writ petitioner's counsel cannot be accepted for the reason that Section 2(14)(iii)(b) contemplates calculating distance of the land in question from the nearest municipality. Merely because Villukury Village falls within Padmanabhapuram Division, it does not mean that Padmanabhapuram Municipality will have to be taken as the jurisdictional municipality for the purpose of computing the distance. The expression used is “any municipality”. Of course, as rightly contended by the writ petitioner's counsel, we will have to take note of the qualifying expression namely “as referred to in item (a)”. It only means that the municipality from which the distance is calculated should have a population of not less than 10 thousand and that it should be a municipality as statutorily understood. It has no other meaning or connotation beyond it. In this view of the matter, I hold that the order impugned in this writ petition is very much sustainable. There is no merit in this writ petition.
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