Gain arising from sale of agricultural land divided into plots exempt from tax; SC dismissed SLP

IT: Where High Court upheld Tribunal's order that land sold by assessee did not fall within meaning of capital asset under section 2(14) as it was classified as dry land for which Kishtu had been paid and, moreover, mere fact that adjacent land was divided into plots for sale could not a ground to conclude that land sold by assessee was for purpose of development, SLP filed against order of High Court was to be dismissed

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