ITAT Orders AO to Examine Additional Section 54B Claim Omitted in Return

Dinmahmad Hajibhai Momin Vs ITO (ITAT Ahmedabad) Additional 54B Claim Supported by Evidence Must Be Examined—CIT(A) Wrongly Rejected as ‘Not in Return’; Matter Restored to AO The Assessee did not originally file a return and was issued notice u/s 148 on 08.04.2022 on the basis of information showing property transactions aggregating ₹29.86 crore. In response, he filed a return declaring ₹2,90,63,110, comprising mainly LTCG on sale of agricultural land and claiming ₹1,66,79,520 u/s 54B for purchase of agricultural land at Shela. During reassessment, the Assessee furnished complete d...