Bombay High Court Allows Revenue Appeal in Capital Gains Tax Case — Land Sold to Resort Held Not Agricultural Land. Land adjacent to five-star hotels with high sale price and lack of systematic cultivation fails to qualify as agricultural land under Income Tax Act, 1961.
23 Mar 2005The case involves two appeals filed by the Commissioner of Income Tax (Revenue) against the assessees, Minguel Chandra Pais and Maria Leila Tovar Furt...






