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Taxablity of advance money

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(Querist)
01 June 2014 ASSESSEE RECEIVED ADVANCE FOR SALE OF HIS AGRICULTURE LAND BUT DEAL WAS CANCELLED AND ADVANCE MONEY FORFEITED BY ASSESSEE IS IT TAXABLE?? it is advance money for sales AGRICULTURE land. reply fast please its urgent.
and also this agriculture land is received as gift to parental of assessee.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
01 June 2014 it is not taxable as its cap receipt and also it was for agricultural land.
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