Income from sale of land used for nursery not taxable if same was declared as agricultural land in revenue records

IT : SLP dismissed against High Court ruling that where assessee sold a piece of land on which it was running a nursery, in view of fact that land was declared as agricultural land in revenue records and, moreover, its distance from nearest Municipality was beyond 8 Kms., income arising from sale of said land could not be brought to tax

from www.taxmann.com Latest Case Laws https://ift.tt/2V9upNm