1982 (12) TMI 70

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..... capital gains. The assessee had, during the relevant previous year transferred to M/s Bees Refractories Pvt. Ltd. 5.36 acres of land with buildings for a total consideration of Rs. 3,52,800. The ITO computed capital gains arising out of the transfer rejecting the assessee's claim that 5.36 acres out of the property sold was agricultural land. On appeal by the assessee, the CIT (A) held that 50% of .....

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..... nature. The materials referred to by the CIT (A) are stated to be inadequate for the purpose of arriving at the conclusion that the exempted portion is agricultural land. The assessee's ld. counsel maintained that the finding has been arrived at by the CIT (A) after local inspection; that the agricultural income-tax assessment and the revenue records fully support the assessee's claim and there is .....

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..... y. It may be that the property had been changing hands under successive transfers and the extensive vacant land that the assessee got possession under a sale deed of 1973 had been put to agricultural use after the preliminary agricultural operations. The land had not been lying idle at the time it was transferred by the assessee. The actual user ordinarily furnishes prima facie evidence of the nat .....

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