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2021 (4) TMI 46 - AT - Income TaxNature of land sold - Agricultural land - applicability of provisions of Capital Asset u/s. 2(14) - land as situated beyond 8 KM from the outer limits of municipality of Jaipur - HELD THAT:- Since now before us, the assessee has successfully proved by placing on record the documentary evidences that the land in question at village Machhwa is 17 KM away from Jaipur and this village is having population of 2453 and land of the assessee is used for agriculture purposes as discussed therefore, keeping in view the totality of facts and circumstances and also keeping in view all the documentary evidences placed on record, we are of the view that the land in question of the assessee was situated beyond 8 KM from the municipal limits of Jaipur and was being used for agricultural purposes and was thus outside the scope of Section 2(14) of the Act and therefore, any gain on sale of the said land is exempted from tax. Thus, we allow these grounds of appeal and directed to delete the addition.- Decided in favour of assessee.
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