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2010 (11) TMI 235 - HC - Income TaxDeduction u/s 54B - Sale of agricultural land - HUF - use of the capital asset being land by the assessee or his parent for carrying on agricultural activity - In view of the judgments of the Madras High Court in Commissioner of Income Tax v. G K Devarajulu, (1990 -TMI - 22451 - MADRAS High Court), Commissioner of Income Tax v. R. Vijayakumar, [1994 -TMI - 19326 - MADRAS High Court] the benefit of Section 54B(1) of the Act were inadmissible in the case of a HUF. - Decided in favor of revenue.
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