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Case Law Details

Case Name : CIT Vs Shri Dinesh Verma (Punjab & Haryana Court High Court)
Related Assessment Year :
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Brief of the case:

Punjab & Haryana High court held in CIT vs Shri Dinesh Verma that exemption u/s 54B could be claimed for short term & Long term assets because there was no such provision u/s 54B which denies exemption for short term assets. So land sold within the two years could be claimed as exemption though short term gain. Further the new land purchased for the use of agriculture purpose had to be in the name of assesse because as per provision of sec 54B new asset had to be purchased by

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