Agriculture land sold by assessee not a capital asset u/s ...

Agriculture land sold not a capital asset as located outside municipal limits & village population below threshold. No tax on gains.

Case Laws Income Tax

August 6, 2024

Agriculture land sold by assessee not a capital asset u/s 2(14)(iii) as it was situated outside municipal limits of Mohali as per notification and population of village below prescribed threshold. Long term capital gains on sale of agriculture land, being not a capital asset, cannot be taxed. Addition made by AO deleted. Grounds allowed in favor of assessee.

View Source

← Previous Next →

Agriculture land sold by assessee not a capital asset u/s ...

Agriculture land sold not a capital asset as located outside municipal limits & village population below threshold. No tax on gains.

Case Laws Income Tax

August 6, 2024

You may also like:

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...

Agricultural land which is beyond 8 Kms from municipal limits is not a capital asset - AT

Agriculture land - capital asset u/s 2(14) - land is situated within the municipal limits of Municipal Council, Sujanpur – Therefore, the asset is ‘Capital Asset’ –...

Nature of land sold - Capital asset u/s 2(14) or agricultural land - it is categorically clear that the travel distance of Nighu village by road is around 9 kilometers...

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....

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...

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...

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...

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...

Long term capital gain - nature of land sold - The income returned in her Return of Income was an agriculture income was just for name sake and does not have any...

Gain on sale of land - nature of land - assessment order passed by treating the land as capital asset as it falls in the City limit - Assessee has filed sufficient...

Capital gains - nature of land sold - land converted into a barren land to establish an industrial estate - land sold by the assessee through sale deed in favour of...

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...

LTCG on sale of agricultural land - Nature of land sold - As the question of distance of the land sold from the outer limit of the Municipal Corporation and other 13...

Capital asset u/s 2(14)(iii)(b) - land in question which was located beyond 8 kms from the Municipal Limits as on 6-01-1994 when the notification was published in the...

Quick Updates: