Allowing the appeal of the assessee, the Tribunal held that, there is no bar under Goa, Daman and Diu Land Revenue Code, 1968 that an agriculturist and / or one who possesses agricultural land cannot transfer such land to any party who is not agriculturist . On facts there is sufficient support that that land was used as agricultural land and the assesse was using the produce for personal purposes . An entry in the record of rights and certified entry in the register of mutation shall be presumed to be true until the contrary is proved or new entry is lawfully substituted therefore. Accordingly property in question cannot be treated as capital asset as contemplated under section 2(14) (iii) and capital gains are not chargeable to tax. (AY.2007 -08)