Case Law Details
Case Name : Commissioner of Income tax Vs Madhukumar N. (HUF) (Karnataka High Court)
Appeal Number : IT Appeal NO. 396 OF 2009
Date of Judgement/Order : 29/03/2012
Related Assessment Year :
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
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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.