Exemption applies to agricultural land sold beyond specified municipal limits, making capital gains non-taxable under Section 2(14).
Exemption applies to agricultural land sold beyond specified municipal limits, making capital gains non-taxable under Section 2(14). Issue Whether capital gains tax is applicable on the sale of agricultural land situated beyond the prescribed statutory distance from municipal boundaries under Section 2(14) of the Income-tax Act. Facts The assessee transferred a parcel of agricultural land… Read More »