TMI BlogCapital gains - nature of land sold - land converted into a barren land to establish an industrial...Capital gains - nature of land sold - land converted into a barren land to establish an industrial estate - land sold by the assessee through sale deed in favour of Kerala State Industrial Development Corporation Limited (for short ‘KSIDC’) - In the case on hand, the assessee both factually and legally did not change the character of land from agriculture to non-agriculture. The assessee has demonstrated that the classification of land continued to be agricultural land in the revenue records eve..... ..... X X X X Extracts X X X X X X X X Extracts X X X X
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