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 –

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