High Court of Bombay at Goa Dismisses Revenue's Appeal in Capital Gains Tax Case — Land Held Agricultural Despite Sale to Resort Developer. The court affirmed that the land's actual agricultural use and revenue classification, not its potential for non-agricultural use, determine its character for exemption under Section 45 of the Income Tax Act, 1961.
9 Sep 2010The case involves two tax appeals by the Commissioner of Income Tax against the respondents, Smt. Debbie Alemao and Shri Joaquim Alemao, who were co-o...




