7/12 Utara of Assessee is showing cultivation of Rice in 31% portion of land and balance 69% as plain grass. This land is anchestral land and is 13 kms from Municipal Limits. This land was sold by the Assessee. Whether this land will be treated as Agricultural land for the purpose of Income Tax?
Also, whether partial cultivation of Rice and remaining portion as plain grass affects the nature of land being not treated as Agriculture Land?
If there are any Caselaws relating to the subject, kindly post.
Thank You,
Anand Bagade
CAclubindia
