Assessee sold agricultural land situated in village Chhatt which was outside the municipal limits as described in Notification No. 9447, dt. 6th Jan., 1994. It was by virtue of the Notification dt. 4th Dec., 2012, issued by the Department of Rural Development and Panchayats, Government of Punjab that the Gram Panchayat of village Chhatt was created. The  village Chhatt, at that time, was not comprised within the municipal limits of Zirakpur. By virtue of Notification No. 10/16/16-3 SS3/2788, dt. 19th Dec., 2016 issued by the Department of Local Bodies, Government of Punjab, that the municipal limits of Zirakpur were extended and village Chhatt was included therein. The Tribunal held that the  land is situated more than four kilometres away from the municipal limits of Zirakpu and  as per the last Census i.e., the Census of 2011, Zirakpur had a population of 95,443.  Accordingly the land sold by the assessee was agricultural land, not forming part of capital asset within the meaning of s. 2(14), accordingly the  amount received by the assessee is not chargeable to tax.  (AY. 2017-18)