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TMI Blog2014 (6) TMI 261X X X X Extracts X X X X X X X X Extracts X X X X ..... ating to assessment year 2002-03. 2. On 12.11.2007, the appeal was admitted for determining following substantial questions of law:- (i) Whether on the facts and in the circumstances of the case, the ITAT is right in law in concurring with the findings of the first Appellate Authority that the land in question falls within the jurisdiction of Mangwal village Gram Panchayat, an autonomous local authority that has all the ingredients of Municipality to cover it fully in Section 2(14)(iii)(a) of the Income Tax Act, 1961, and as this Panchayat does not find place in the Board's notification dated 6.1.1994, therefore, the land in question does not come under the definition of capital asset and thereby deleting the addition of Rs. 12,83,930 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /1/94 issued u/s 2(1A)(c) proviso, clause (ii) (B) and section 2(14)(iii)(b) in which urban area has been defined. Under the said notification the area in respect of Sangrur town upto the distance of 5 km from the Municipal limits in all the directions has been notified as urbanized area." 4. The appeal against the aforesaid order was filed by the assessee before the CIT(A), which was allowed on 1.11.2004 by making the following observations:- "4.2 In view of the above, it is clear that the land in question falls within the jurisdiction of village Gram Panchayat, an autonomous local authority that has all the ingredients laid down by the Hon'ble Kerala High Court (supra) to cover it within the definition of Municipal in section 2(14)( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess or profession, but does not include.... (iii) agricultural land in India, not being land situate--- (a) in any area which is comprised within the jurisdiction of a municipality(whether known as a municipality, municipal corporation, notified area committee, town area committee, town committee, or by any other name) or a cantonment board and which has a population of not less than ten thousand according to the last preceding census of which the relevant figures have been published before the first day of the previous year; or (b) in any area within such distance, not being more than eight kilometres, from the local limits of any municipality or cantonment board referred to in item (a), as the Central Government may, having regard to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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