ITAT Jaipur Allows Section 54B Deduction for Investment in Spouse’s Name

Raju Lal Jalthaniya Vs ITO (ITAT Jaipur) Investment in Wife’s Name Eligible for S.54B Relief – ITAT Jaipur Directs AO to Finalize Income as per Remand Report-CIT(A) Erred in Remanding Despite Remand Report – ITAT Jaipur Decides on Merits & Grants S.54B Relief Assessee sold land at Bindayaka, Jaipur for ₹79.55 lakh & did not file a return. Assessment was completed ex parte u/s 144 r.w.s 147, taxing ¼ share (₹19.88 lakh) as undisclosed capital gain based on DLC value u/s 50C. In appeal, CIT(A)-NFAC accepted that the order was passed ex parte but, invoking powers u/s 251(1)(a),...