Kerala High Court
The Commissioner Of Income Tax vs Shri A.Aboobacker on 21 December, 2010
Bench: C.N.Ramachandran Nair, B.P.Ray
IN THE HIGH COURT OF KERALA AT ERNAKULAM
ITA.No. 1295 of 2009()
1. THE COMMISSIONER OF INCOME TAX,
... Petitioner
Vs
1. SHRI A.ABOOBACKER, ATHIKKAL HOUSE,
... Respondent
For Petitioner :SRI.P.K.R.MENON,SR.COUNSEL, GOI(TAXES)
For Respondent :SRI.K.ANAND (A.201)
The Hon'ble MR. Justice C.N.RAMACHANDRAN NAIR
The Hon'ble MR. Justice B.P.RAY
Dated :21/12/2010
O R D E R
C.N.RAMACHANDRAN NAIR &
BHABANI PRASAD RAY, JJ.
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I.T. Appeal No.1295 of 2009
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Dated this the 21st day of December, 2010.
JUDGMENT
Ramachandran Nair, J.
Question involved is whether respondent-assessee is entitled to exemption from payment of capital gains on the land acquired which is agricultural land within the Panchayat area. Agricultural land is exempted from capital gains tax unless it is located in Municipal area or notified areas. Consequently we do not find any merit in the appeal filed by the Revenue. Appeal is accordingly dismissed.
C.N.RAMACHANDRAN NAIR Judge BHABANI PRASAD RAY Judge pms