asset" were defined in sections 2(1) and 2(14) of the Act as hereunder :
"2. In this Act, unless the context otherwise ... proviso appended to section 2(1) of the Act, their Lordships then read down section 2(14)(iii) of the Act, exhaustively examined the several
civil applications, same question relating to the constitutional validity of section 2(14)(iii) of the Income-tax Act, 1961, has been urged on various ... therefore, the newly amended section 2(14)(iii) violates article 14.
6. Thus, on submissions (1) and (2) it was contended that
fall in the classification
of asset defined in Section 2(14)(iii)(a) or (b) of the Act as against
the order ... 2014 & 31/Mds/2015
the provisions of Section 2(14)(iii) of the Act by observing as
under:-
(i) The chitta, patta and adangal
were not situated as per limbs (a) and (b) of Section 2(14)(iii) of the Act. i.e. within the jurisdiction of a municipality ... satisfied other conditions of of limbs (a) & (b) of Section 2(14)(iii) of the Act. In the said case, the Madras High Court
following conditions:
(i) Land is situated in area covered by section 2(14)(iii)(a) or (b)and
was used for agricultural purposes.
(ii) Such ... 2(14) of the I.T. Act liable for capital gains.
Only urban agricultural land notified u/s. 2(14)(iii)(a) or 2(14
Jayaprakash's case, Rule 14 A(2)(a) was considered
and Rule 14 A(2)(iii) Rules, 1957 was not considered. In
Gopala Krishna ... read with Rule 14-A of Rules, 1957 and not Rule 14-
A(2)(iii) of Rules, 1957. In the cases of Shivanand Magadum
straight line measurement was mandated as per the amendment to section 2(14)(iii)(b) as on 1.4.2014, the same cannot be applied ... distance of 2 kms., from the municipal limits of city, has to be reckoned for the purposes of Section 2(14)(iii
agricultural land sold by
assessee is not an asset u/s 2(14)(iii)(a) or (b) as these provisions
stood then and therefore ... assessee is not an asset with reference to provisions of
section 2(14)(iii)(a) or 2(14)(iii)(b) as these stood then
assessee
during the year were not capital asset U/s 2(14)(iii) of the Act.
4. Aggrieved by the impugned order ... regards the land in question not capital asset U/s 2(14)(iii) of
the Act, the ld. DR has submitted that when the assessee
fall within the purview of capital asset as contemplated under Section 2(14)(iii) of the Income ... Commissioner (Appeals) is erroneous having regard to the language of Section 2(14)(iii)(a) which is very clear in that, once an area comes
