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1996 (3) TMI 8 - SC - Income Tax
Whether the lands sold during the year of account was not 'agricultural land in India' during the year of assessment and, hence, not liable to be excluded from the definition of the words 'capital asset' - Whether the surplus realised on the sale of land in the year of account is not exempt from capital gains - held that land was not agricultural, therefore liable to tax under Capital Gains