Suitable anwser with reference to recent cases ?

This query is : Resolved

Gaganpal (Querist)
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29 June 2013 Will an agricultural land be treated as capital asset, in case it is located within 8
kilometers from the local limits of a City Municipal Corporation, even though the
same is not notified by the Central Government under section 2(14)(iii)(b)?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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29 June 2013 The Agriculture land out of notified area is
not treated as a capital asset.
.
Copy from the land Records will be more than
sufficient than any case law.
.
8 km is the maximum limit which can be notified for urbanisation.
.
As the law is very clear, no case law , so far has come to my notice. If found, I shall surely provide the same.
.

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