Capital Gain tax payable on Sale of Land declared as non- Agricultural

Virvati Devi Vs CIT (ITAT Delhi) The Ld. CIT(A) correctly noted that possession of the property in question was not transferred at the time of Agreement to Sale. After the Agreement to Sale the SDM vide order dated 26.02.2009 changed the land use and declared the land as non- agricultural. The sale deed dated 24.03.2009 was registered thereafter. It is therefore clear that the sale transaction was completed on execution of the sale deed and at that time the land had acquired the character of non-agricultural land. Thus, on the date of sale, the land in question was not an agricultural land. T...