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TMI Blog2023 (6) TMI 1125X X X X Extracts X X X X X X X X Extracts X X X X ..... s not fall within the meaning of section 2(14) read with section 54B of the Act attracting levy of tax on account long term capital gain. Therefore, grounds of assessee are allowed and AO is directed to delete the addition. Decided in favour of assessee. - ITA No. 85/Del/2023 - - - Dated:- 23-6-2023 - Shri C.M. Garg, Judicial Member For the Assessee : Shri Akhilesh Kumar, Adv For the Revenue : Shri Om Parkash, Sr. DR ORDER 1. This is an appeal filed by the assessee against the order of the ld CIT(A), National Faceless Appeal Centre (NFAC) dated 24.11.2022 for the Assessment Year 2014-15. 2. Ground No. 1 of the assessee is general in nature, the remaining effective ground reads as follows:- 2. Because learned C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d agricultural activity thereon by the assessee. The ld counsel also submitted the authorities below have further misdirected themselves under the law in differentiating between rural agricultural land u/s 2(14) of the Act and urban agricultural land subjected u/s 54B of the Act. 4. The ld counsel drawing our attention towards para 4 of assessment order submitted that the AO took an incorrect fact that the land sold by assessee was not barren rural agricultural land and was capital asset within the meaning of section 2(14) of the Act and hence sale consideration received attracts long term capital gain. The ld counsel submitted that the AO himself agreed that as per revenue record land is agricultural land then the contrary observation o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ral land was situated on the national highway, the land sold by the assessee was undoubtedly a capital asset within the meaning of section 2(14) of the Act read with section 54B of the Act and thus chargeable to long term capital gain. The ld Sr. DR submitted that orders of the authorities below may kindly be uphold. 6. On careful consideration of the above submission first of all from the copy of the relevant pages of the purchase deed dated 11.01.2007 available at page 1 to 6 of PB I note that the seller Irshad Ali had mentioned that he is selling agricultural land Khasra No. 758 to the assessee to the assessee, which is situated at National Highway. Further, from the copy of the relevant pages of the sale deed dated 01.05.2013 availab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the further appellant/ assessee did not carry out any agricultural operation did not also result in any conversion of the agricultural land into an industrial land. The case of the assessee is on better footing as the Khasra revenue records clearly reveals that during the year of sale as well as immediately preceding year the crop of wheat, potato, wheat mustard respectively was sown and assessee undertake agricultural activities on the land. It is not the case of the AO that the assessee was carrying out any other activity on the land then the agricultural activity. Therefore, the proposition rendered by the Hon'ble Delhi High Court (supra) supports the case of the assessee. 8. In view of the foregoing discussion I am of the con ..... X X X X Extracts X X X X X X X X Extracts X X X X
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