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

Case Laws Income Tax

April 21, 2023

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 ...

Case Laws Income Tax

April 21, 2023

You may also like:

Addition to income from capital gains - Nature of land sold - Anyhow, to meet the ends of natural justice, we direct the assessee to file complete sale deeds of the...

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...

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...

The ITAT Hyderabad held that the capital asset, as defined in section 2(14) of the Act, must be held by the assessee and not connected with their business or profession....

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...

Gain on sale of land - Nature of land - agricultural land or capital asset or business receipts - Simply showing the land in the balance sheet as an investment is not...

Capital gain - nature of land sold - capital asset v/s agricultural land - whether the agricultural land sold by the assessee or his HUF is a ‘capital asset’? - land...

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....

LTCG - withdrawal of exemption u/s 54B - sale of new land within lock in period - In the case on hand, we are concerned with the capital gains with respect to the first...

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...

Exemption u/s 54B - Agriculture land - vacant land - if the AO comes to the conclusion that the impugned lands are agricultural lands, still the capital gain arising on...

Gain on sale of land - Short Term Capital Gain OR business income - the assessee converted the agricultural land into non-agricultural purpose - The above transaction is...

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...

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 Gains - Whether land belonged to the ''HUF'' and not to the assessee? - there was no mentioned that the land was being sold by the assessee as Karta of 'HUF' -...

Quick Updates: