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If a Municipality is not notified by the Central Government, the agricultural land falling therein cannot be treated as capital asset by taking the distance from the limits of other Municipality
Case Law Details
- Case Name
- Srinivas Pandit (HUF) Vs. ITO (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2003- 04
- Courts
- All ITAT, ITAT Hyderabad
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ITAT, HYDERABAD BENCH `B’, HYDERABAD,
Srinivas Pandit (HUF) Vs. ITO,
APPEAL NO: ITA No. 56/HYD/2007,
DECIDED ON April 23, 2010
RELEVANT PARAGRAPH
______ORDER________
Per Shri N.R.S. Ganesan, Judicial Member:
This appeal preferred by the assessee is directed against the order passed by the CIT(A)-VI, Hyderabad dated 5.10.2006 and pertains to the assessment year 2003-04.
2. Shri Rama Rao, learned counsel for the assessee submitted that the assessee sold agricultural land to the extent of 2 acres 20 quntas and claimed exemption from payment of capital gain tax. According to the learned co...
