Section 54B Exemption Valid for Pre Sale Deed Registration Land Investment: ITAT

Siddhulal Patidar Vs ITO (ITAT Indore) Investment by assessee in the new Agricultural land from sale-proceed of old Agricultural  land, even if made before registration of sale-deed, is eligible for Section 54B exemption and assessee entitled for exemption u/s 54B even if the registration has been taken in the name of son. Introduction: Selling agricultural land can generate significant capital gains, which are typically taxable in India. However, the Income Tax Act offers a beneficial provision – Section 54B – to help taxpayers save on taxes when they reinvest the sale proceeds in anothe...