Capital Gains Tax: Land Classified as Agricultural as of April 1, 1981, Impacts Tax Liabilities Despite 2005 Conversion.

Computation of capital gains – nature of land at the time of valuation i.e. as on 1-4-2008 - conversion of agricultural land into non-agricultural land in the year 2005 - AO has rightly treated this land as agricultural land as on 01- 04-1981 - AT .....

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