1979 (2) TMI 120 - AT - Income Tax

Summary

The Appellate Tribunal held that a notification issued on 6th Feb., 1973, regarding agricultural lands, applied from the assessment year 1973-74 onwards and not retrospectively. Sales made before the notification were not subject to capital gains tax. The appeal was allowed. (Case: 1979 (2) TMI 120 - ITAT BOMBAY-C)