The assessee sold agricultural land during the year which the Assessing Officer (AO) treated as a...

The assessee sold agricultural land during the year which the Assessing Officer (AO) treated as a capital asset, leading to levy of long-term capital gains tax. The Tribunal held that the AO erred in disregarding the certificate issued by the Tehsildar certifying the land as agricultural land situated beyond municipal limits. The AO failed to examine the discrepancies in distances mentioned by the Tehsildar and relied solely on the photocopy certificate without verifying its authenticity. The Tribunal relied on the certificate issued by the Survey of India, Government of India, to conclude that the land sold was agricultural land beyond municipal limits, not a capital asset, and hence not liable to capital gains tax u/s 45. Regarding deduct..... .....

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