Assessee  sold agricultural land and claimed exemption. AO rejected the claim on the ground that the assessee had not utilised land for agricultural purpose. Tribunal held that records were showing that lands were agricultural land, classified as dry land for which Kisthu had been paid. Tribunal also held that  the  merely because of adjacent land was divided into plots for sale was not a reason to held that land sold by assessee was for purpose of development  land in question cannot be trated as capital asset. Order of Tribunal is up held by the High Court. (AY. 2012-13)