Mere categorisation of land as agricultural in revenue records not suffice for capital gain exemption-High Court
January 19, 2018
High Courts, Income Tax, Judgments
Mere categorisation of land as agricultural in revenue records not suffice for capital gain exemption. Whether a land is agricultural or not is a question of fact – High Court Prelude: Section 2(14) of the Income Tax Act, 1961 (the Act) defines “capital assets”. It also provides for …