Section 54B exemption eligible on Agricultural Property purchased against Advance of Agricultural Property Sale

Dharmendra J. Patel Vs DCIT (ITAT Ahmedabad)

ITAT observe that the new property was primarily purchased out of advances received from sale of two agricultural properties. Evidently, the advances so received by the assessee were invested in the new agricultural property after the same were received and within a period of 2 years from the date of receipt of advance. In the case of Please become a Premium member. If you are already a Premium member, login here to access the full content.