On appeal the Court held that, the agricultural land sold by the assessee was situated within 4 kms of the municipal limits of Thanesar City (notified limits being 5 kms), hence did not constitute agricultural land. Assessee’s contention that he would be entitled to the beneficial provisions of S.54F of the Act could not be accepted at this stage, since the record shows no such claim was ever made and no facts relating to this issue had been pleaded before lower authorities. (ITA No. 143 of 2018 dt. 02-11-2018) (AY. 2013-14)
Gurdeep Singh v. PCIT (2019) 307 CTR 117 / 174 DTR 381 (P&H)(HC)
S. 2(14)(iii) : Capital asset – Agricultural land – land sold being situated within municipal limits of Thanesar City – AO rightly considered land as non-agricultural land — Contention that benefit of S 54F is to be given could not be accepted since it was not raised before any of the lower authorities. [S. 45, 54F]