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2012 (6) TMI 239 - RAJASTHAN HIGH COURTDeduction u/s 54B - denial - sale of agricultural land standing in assesee's name - purchases of land in name of son and daughter-in-law - Held that:- Bare reading of Section 54B does not suggest that assessee would be entitled to get exemption for the land purchased by him in the name of his son and daughter-in-law. In the facts and circumstances of the case also aforesaid inference has not been drawn. Same is question of fact. No substantial question of law arises in appeal. Secondly, word 'assessee' cannot be given a liberal interpretation, as it would be tantamount to giving a free hand to the assessee and his legal heirs and it shall curtail the revenue of the Government, which the law does not permit. Thus, Tribunal has rightly disallowed the exemption u/s 54B - Decided against the assessee.
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