2006 (4) TMI 71

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..... eases to be agricultural land and once the land ceases to be an agricultural land, party cannot claim exemption treating the land to be an agricultural asset – assessee’s appeal dismissed - 37 of 1997 - - - Dated:- 13-4-2006 - S. S. JHA and AJIT SINGH JJ. JUDGMENT 1. The following reference has been made to this court for opinion: "Whether, on the facts and in the circumstances of th .....

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..... s filed for diverting the land and the nature of land is changed the land cannot be termed as agricultural land. In the instant case, which is not in dispute that the petitioner has purchased the agricultural land admeasuring 6.17 acres on September 9, 1977, and it was assessed to land revenue at Rs. 20.12 per annum. It is not in dispute that after the purchase of land by the assessee the intentio .....

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..... They will not be agricultural lands and assets. The question is answered in the case of Gordhanbhai Kahandas Daiwadi v. CIT [1981] 127 ITR 664 (Guj), it is held while interpreting the provisions of the Bombay Tenancy and Agricultural Lands Act, 1948, the definition of the word "land" which is used for agricultural purposes or which is sometimes used as agricultural land, but is allowed to lie .....

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