ITAT Jaipur Allows Section 54B Deduction for Investment in Spouse’s Name

Raju Lal Jalthaniya Vs ITO (ITAT Jaipur)

Investment in Wife’s Name Eligible for S.54B Relief – ITAT Jaipur Directs AO to Finalize Income as per Remand Report-CIT(A) Erred in Remanding Despite Remand Report – ITAT Jaipur Decides on Merits & Grants S.54B Relief

Assessee sold land at Bindayaka, Jaipur for ₹79.55 lakh & did not file a return. Assessment was completed ex parte u/s 144 r.w.s 147, taxing ¼ share (₹19.88 lakh) as undisclosed capital gain based on DLC value u/s 50C.

In appeal, CIT(A)-NFAC accepted t

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