S.2(14)(iii): Capital asset-Agricultural land- Capital gains- Agricultural lands and beyond 8 k.m., from the notified cities – Revenue records showing as agricultural lands- Department to prove that the entries in the revenue records and the patta were false or bogus- Entitle to exemption .[ S.45 ]
PCIT v. K. P. R. Developers Ltd. (2019) 311 CTR 832/ 183 DTR 406 / 274 Taxman 449(Mad.)(HC)