CAp Asset Definition-exclusionns

hai friends...Under Sec2(14) of the inc tax Act rural agri land is excluded from the definitn of Cap Asset if either satisty ist or 2nd conditions as prescribed in the section. My query is that ,is that alone we hav to consider or in addition to that some important tests too ,which our apex court specified in the case of Sarifabibi Mohmed Ibrahim Vs CIT(1993). I would be thankful if anybody revert to me in this regard.