Amount earned on sale of Agricultural land not for Business is capital receipt

DCIT Vs. Kushal Infraproject Industries India Ltd. (ITAT Delhi)

The assessee has admittedly sold the agricultural land as it is so there were no intention to do any business activity, therefore, period of holding would not be relevant. The intention of the assessee is therefore clear that assessee purchased the agricultural land and sold the agricultural land as it is. The assessee never treated the said agricultural land as stock in trade and never converted into non agricultural land. The assessee did not create any plot in the said land and no develo

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