It is observed in the aforesaid order that if the
view taken in Trikha Ram's case and Madho
Prasad's case is taken to its logical conclusion,
then all agricultural land of the urbanized
villages would cease to be governed by the
provisions of Delhi Land Reforms Act, 1954
and the Municipal Corporation of Delhi would
be entitled to levy property tax on these lands. It
is also noted in the order of reference dated
25.08.2004 that, under the Income Tax Act,
capital gain is exempted when agricultural lands
are compulsorily acquired and when DIVYANG
THAKUR
agricultural land in an urban area is acquired, Digitally signed
by DIVYANG
what would happen to those provisions of the
THAKUR
Date: 2025.02.25
16:08:44 +0530
Income Tax Act.
52. Ld Counsel for the Defendant has argued that the said
notification stood temporarily suspended vide order of the
Hon'ble High Court in W.P (C) no 2596 of 2001 dated
24.11.2004, however, in view of the later authoritative ruling in
Indu Khorana (supra) as explained above, it stands to reason that
the suit property was urbanized and that the provisions of Delhi
Land Reforms Act would have no application post the 1994
notification.