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TMI Blog2010 (11) TMI 440X X X X Extracts X X X X X X X X Extracts X X X X ..... pprox. 6.5 kms. from the municipal limit of Tehsil Samalkha - The AO did not controvert this fact and has not brought on record any material that the land is within 5 kms. from municipal limit - Thus, the appeal filed by the Revenue is dismissed. - ITA No. 893/DeI/2010; - - - Dated:- 16-11-2010 - C.L. Sethi, Shamim Yahya, JJ. Ved Jain and Venketesh Chaurasia for the Appellant R.P. Singh for the Respondent ORDER Shamim Yahya, Accountant Member:- 1. This appeal by the Revenue is directed against the order of the learned CIT(A), dt. 24th Dec., 2009 pertaining to asst. yr. 2003-04. 2. The issue raised is that learned CIT(A) erred in deleting the addition of Rs. 34,78,055 made by the AO on account of capital g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Samalkha, District Karnal is 'area upto a distance of 5 kms. from the municipal limit in ail directions.' The AO has quoted the report of Tehsildar, Samalkha wherein it has been clearly mentioned that the distance of the said land from the area of municipal limit was approx. 6.5 kms. at the time of sale of land. It has also been mentioned that the said land is approx. 8 kms. from the bus stand and the Tehsil office. The report of Tehsildar, Samalkha dt. 19th Sept., 2003 also confirms the facts that the land is situated at approx. 7 to 8 kms. from Samalkha. As per s. 2(14) 'capital asset' means property of any kind held by the assessee, whether or not connected with his business of profession, but does not include:- (i) ............... ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dt. 24th Feb., 2006 clearly mentioned that the land was situated approx. 6.5 kms. from the municipal limit of Tehsil Samalkha. In view of the facts on record and the notification issued by the Government of India the land will not fall in the purview of capital asset as defined in the IT Act. I am inclined to agree with the appellant that the sale proceed from the above land will not be liable to the taxed as capital gains. The disallowance made by the AO is deleted. This ground of appeal is allowed." 5. Against this order the Revenue is in appeal before us. 6. We have heard both the counsel and perused the records. We find that learned CIT(A) has given a clear finding that there are Circular Nos. SO-10 and SO-1302 which were sent ..... X X X X Extracts X X X X X X X X Extracts X X X X
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