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Condition for use of land for agricultural purpose in preceding two years satisfied: Section 54B exemption granted
Case Law Details
- Case Name
- Rahul Bajpai Vs DCIT (ITAT Raipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Raipur
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Rahul Bajpai Vs DCIT (ITAT Raipur)
Page ContentsRahul Bajpai Vs DCIT (ITAT Raipur)
Rahul Bajpai Vs DCIT (ITAT Raipur)
Condition for use of land for agricultural purpose in preceding two years satisfied: Section 54B exemption granted
ITAT Raipur held that exemption under section 54B of the Income Tax Act is allowable since pre-condition regarding usage of land for agricultural purposes in two years immediately preceding date of transfer is satisfied. Accordingly, appeal allowed.
Facts- AO observed that assessee claimed deduction of Rs. 3,90,94,919/- u/s. 54B of the I...
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