Claim of deduction accepted by AO despite unequivocal language of Act is erroneous U/s. 263

Paras Chinubhai Jani Vs Pr. CIT (ITAT Ahmedabad)

In this case AO has not given any reason as to how purchase of land prior to transfer of capital asset is eligible for claim of deduction under s. 54B(1) of the Act. Thus, as a corollary, the AO h

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