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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 August 2018 A person sold agricultural land in F.Y. 2009-10 in village Solkhian, Tehsil & District Ropar(Pb.). The land was not situated within the limits of nearby Municipal Committee i.e. Ropar in f.y. 2009-10. Only one road connecting to Ropar is notified as per CBDT Instn. dated 6.1.1994 i.e. Bela Road but the land sold was not situated towards this road. The same was situated towards Kurali Road. I want to clarify whether the land sold by the assessee in f..y. 2009-10 will be treated as capital asset or not within the meaning of sec. 2(14) if it is located towards unnotified road(as per cbdt instn. dated 6.1.1994) connecting to Ropar but falls within 8 kilimeters from the municipal limit of Ropar.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
16 August 2018 It will be a capital asset as it falls within 8 Kms from municipal limits.
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