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Land within 1 Km from local limits of municipality having population of more than 25,000 is Capital Asset
Case Law Details
- Case Name
- Gurudwara Sahib Patti Dhaliwal Vs CCIT (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All High Courts, Delhi High Court
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Gurudwara Sahib Patti Dhaliwal Vs CCIT (Delhi High Court)
The agricultural land which is excluded from the definition of “capital asset” is the land which is described under Sub Clause (iii). In the present case, we are concerned with Sub Clause (iii) (b) (II) which provides that agricultural land is exempted from the purview of “capital gains” unless the area is within the distance, measured aerially, not being more than 6 Kms from the local limits of any municipality or cantonment board referred to in item (a) (land situated in in any area which is comprised within the jurisdiction o...
