Tribunal held that, distance from Municipal limits to area in which land is situated and not distance between particular land and municipal limit. The issue raised by the assessee requires a proper investigation of facts and also determination of the fact whether the particular land is situated in the area which is beyond 8 KM from the Municipal limits .Matter remanded. ( AY. 2011-12)
Rakesh Garg v. ITO (2018) 173 ITD 302/( 2019) 197 TTJ 632 (Jaipur)(Trib.)
S. 2(14)(iii)(b) : Capital asset-Agricultural land- 8KM- Distance from Municipal limits to area in which land is situated is to be considered and not distance between particular land and municipal limit-Matter remanded. [S.45, 54F]