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If there is no relevant notification, land within 8 kms of municipality limits deemed to be an ‘agricultural land’
Case Law Details
- Case Name
- Commissioner of Income tax Vs Madhukumar N. (HUF) (Karnataka High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Karnataka High Court
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HIGH COURT OF KARNATAKA
Commissioner of Income tax
V/s.
Madhukumar N. (HUF)
IT Appeal NO. 396 OF 2009
MARCH 29, 2012
JUDGMENTD.
V. Shylendra Kumar, J.
In this appeal under Section 260A of the Income tax Act, 1961 [for short, ‘the Act’] the revenue has questioned the correctness of the order of the Income Tax Appellate Tribunal, Bangalore “C Bench, Bangalore passed on 27.02.2009 in ITA/No. 1043(Bang)/2008.
2. The assessee is a Hindu undivided family and the assessment year is 2005-06. The question is as to whether the agricultural land belonging to the family sold on 02.03.200...
Respected All,
In our case the local limit is not determinable by normal course, but the population is >10000 it is agricultural land,
How do we come to know whether the land is eligible for LTCG or not
& how do we know about the notification issued by the government. form where we know it.
Pls help
The title given is misleading.
What the HC has held is only that agrl land, even if within 8 kms from a Municipal limit, is not a ‘capital asset’ unless the area is covered by the necessary Notification.