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TMI Blog2019 (4) TMI 776X X X X Extracts X X X X X X X X Extracts X X X X ..... d as industrial by 2021, without any notification from the competent authority, it cannot be said that the land in question loses its character and status of being an agricultural land. It is not the case of the Revenue that any competent government had issued any notice changing the nature of land from rural agricultural land in order to apply the provisions u/s 54B of the Act. Having accepted the agricultural income of the assessee and having possession of the record at the time of passing the order u/s 147/143(3) of the Act, it seems that the learned AO failed to appreciate the fact that unless and until a competent Government issues a notification or the conversion of the use of land takes place, land with standing crop whose mutatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... garding the cash deposit of ₹ 20,07,000/-, the assessee stated that such amount was deposited out of sale proceeds of agricultural land sold jointly and property dealing. According to the assessee, ancestral land was sold to one M/s Arshia Northern Logistics Infrastructure Ltd. and the amount was deposited in the account of his mother. Assessee produced the copies of sale deed, bank pass book of his mother and also of one Subhash etc. Learned AO completed the order dated 22.3.2013 by making an addition of ₹ 5,34,000/-. 5. Assessee preferred appeal. During the appeal, learned CIT(A) called for the remand report and the learned AO by letter dated 18.2.2015 stated that the assessee had field a copy of Jot Chakbandii.e. Jot Chak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of the execution of the sale deed on 24.3.2009 and the mutation took place in the Revenue record like Jot Chakbandi and Jot Khasra. Such mutation takesplace only when the agricultural land is sold otherwise it was not possible for the mutation in the Revenue record. Assessee further submitted that he produced the Jot Chakbandi Khasra and Khatauni before the ld. AO to establish the fact that there was yield of wheat and jwar at the time of transfer. 9. Learned CIT(A) considered all the facts and circumstances of the case in the light of the documents and the remand report available before him and recorded the findings of fact as to the nature of land being agricultural land as per the land records; that the agricultural activities were ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the case. Further since the assessee had not purchased any agricultural land out of the sale proceeds of the agricultural land within two years from the sale, the long term capital gain is chargeable. 11. It is the submission of the assessee by way of written submission that the learned AO did not consider the documents produced before him and Sub Registrar, Sale deed at page nos. 92 to 97 only mentioned that the plot is in the vicinity of industrial area as per the Master Plan of Khurja Development Authority and, therefore, the assessee had accepted in the sale deed and signed but the Khurja Master Plan 2-021 is a plan map only which represents the comprehensive long term strategy for achieving planned development of the area of Khurj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e area said to be developed as industrial by 2021, without any notification from the competent authority, it cannot be said that the land in question loses its character and status of being an agricultural land. It is not the case of the Revenue that any competent government had issued any notice changing the nature of land from rural agricultural land in order to apply the provisions u/s 54B of the Act. 14. Having accepted the agricultural income of the assessee and having possession of the record at the time of passing the order u/s 147/143(3) of the Act, it seems that the learned AO failed to appreciate the fact that unless and until a competent Government issues a notification or the conversion of the use of land takes place, land wi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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