ITAT allows Section 54B deduction to HUF on agricultural land purchased in Individual capacity

Ramdas Pandharinath Kale (HUF) Vs ITO (ITAT Pune)  Assessee claimed deduction of Rs.80,85,572/- on account of re-investment in agricultural land. The AO allowed the same. The assessee filed additional evidences on other issue by way of a registered agreement dated 08-07-2016 on account of purchase of new house property in support of claim u/s. 54F of the Act. The CIT(A) having found the said information not before the AO, sought remand report. The AO furnished remand report. According to the AO relating to this issue u/s. 54B of the Act held that the assessee purchased agricultural land to an...