Assessment of capital gains on sale of agricultural land or ...

Capital Gains Tax Applied to Agricultural Land Near Hindupur per Section 2(14)(iii) of Income Tax Act, Upheld by CIT(A).

April 21, 2023

Case Laws Income Tax AT

Assessment of capital gains on sale of agricultural land or landed property - the assessee’s case clearly falls under clause (b)(ii) to provisions of section 2(14)(iii) reason being assessee’s land is outside Hindupur Municipal limits at a distance of 4 kms measured aerially and as per provisional report of Census of India, population of Hindupur Municipality in 2011 is 151677. Hence, the AO has rightly charged assessee’s land to capital gain tax and the CIT(A) has rightly affirmed the same. - AT

View Source

← Previous Next →

Assessment of capital gains on sale of agricultural land or ...

Capital Gains Tax Applied to Agricultural Land Near Hindupur per Section 2(14)(iii) of Income Tax Act, Upheld by CIT(A).

April 21, 2023

Case Laws Income Tax AT

You may also like:

Long term capital gain - agricultural land - capital asset u/s 2(14) - land as situated within Municipal Limit or not?- it can be held that “Dharuhera” of District...

Capital gain on sale of land - Nature of land sold - agricultural land - calculation of shortest route - , although there is no doubt that conflicting reports were...

HC upheld the tax authorities' determination that the disputed land was not agricultural land under Section 2(14)(iii) of the Income Tax Act, making gains from its sale...

LTCG - capital assets OR agricultural land - at the time of sale the assessee’s land was more than 8 KMs away from the local limits of Municipal Council - assessee’s...

Addition of undisclosed income arising out of sale of land - on-money - Once, nature and character of land sold is established as agricultural land not to be treated as...

Assessee's gains were profits from sale of specified agricultural land which does not come within the definition of asset as prescribed under s. 2(14) and by virtue of s....

Compensation received under an award passed by the Land Acquisition Officer u/s 24(1) of the Right to Fair Compensation and Transparency in Land Acquisition,...

Capital Gains - sale of agricultural land - scope of capital asset u/s 2(14) - the land was sold as an agricultural land and in fact, what was sold was agriculture land....

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...

Nature of land sold - Capital asset u/s 2(14) or agricultural land - If both the conditions are present then it would not be agricultural land and would be treated as...

Nature of land sold appurtenant to the bungalow - whether agricultural land within the meaning of Section 2(14)(a)(iii) of the Act and hence, its sale proceeds are...

Sale of land - Assessing Officer in bringing to tax the short term capital gains arising from the sale of agricultural land under the head ‘business income’ - land in...

Nature of land sold - capital asset u/s 2(14) or agricultural land - If the previous owner did not carry out agricultural activity on an agricultural land, however did...

Gains arising on sale of Agricultural land – Assessee might not have paid agricultural income-tax but is paying land revenue and village records clearly showed the land...

Capital gain on sale of land - Nature of land - it is undisputed fact that assessee has sold agricultural land on which he was carrying out agricultural activities prior...

Quick Updates: