No deduction u/s 54B if Assessee purchases agricultural land in son & daughter-in-laws name

Advertisement HIGH COURT OF RAJASTHAN Kalya V/s.  Commissioner of Income-tax D.B. IT APPEAL NO. 112 OF 2012 D.B. civil misc. stay application no. 1180 of 2012 Date of Pronouncement – 19.05.2012 ORDER Mahesh Bhagwati, J. Challenge in this Income Tax Appeal is to the order dated 22nd November, 2011, whereby the Income Tax Appellate Tribunal, Jaipur Bench, Jaipur partly allowed the appeal filed by the assessee-appellant, while the appeal filed by revenue was allowed for statistical purposes. 2. Shorn of unnecessary details, the facts of the case, in nub, are that agricultural land ad-m...