Assessee sold a piece of land and claimed that it was agricultural land, thus exempt from capital gains tax. Assessing Officer classified the land as non-agricultural based on factors such as classification by the Registration Department and absence of agricultural activities. CIT(A) affirmed the order of the Assessing Officer. On appeal, the Tribunal held that the land was situated 16 kms from the municipality, thus agricultural. Further, a certificate from the Village Administrative Officer confirmed it as agricultural land. Additionally, cultivation of groundnut was recorded in the land records.\u00a0 Held capital gains exempt from taxation.\u00a0\u00a0 (AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 2(14)(iii) : Capital asset-Capital gains-Agricultural land-16 kms from municipality-Cultivation of groundnut-certificate from Village Administrative Officer-Exempt from taxation. [S. 45] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-60766","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fO6","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=60766"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60766\/revisions"}],"predecessor-version":[{"id":60767,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/60766\/revisions\/60767"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=60766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=60766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=60766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}