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2018 (4) TMI 1842 - AT - Income TaxLong term capital gain on sale of agriculture land - transfer of land in the year under consideration - only 10% of the sale consideration was received during the year and balance 90% consideration was received on 14.08.2008 i.e. AY 2009-10 - Benefit of investments in new agriculture land u/s 54B & construction of house u/s 54 F invested subsequent to the receipt of money against sale of agriculture land - HELD THAT:- As assessee admitted that factual finding with regard to the assessees land being included and covered in the disputed lands before the High Court, were not available on record but at the same time, contended that the same could be established by the assessee by placing relevant material and evidence on record subject to verification by the department of the same. As assessee requested, therefore, that the issue be restored to the Assessing Officer so as to enable the assessee to establish the identity of the facts of the present case with that in the case of Rajiv Kumar [2016 (7) TMI 184 - ITAT CHANDIGARH] - As for the affidavit regarding postponement of handing over of possession of land by the sellers to the buyers only on receipt of complete consideration, the Ld. counsel for assessee stated that no such affidavit was filed in the case of Parshotam Kumar which was also an identical case decided on the lines of Rajiv Kumar(supra) following the said decision. We restore the issue back to the Assessing Officer for the limited purpose of enabling the assessee to establish the identity of the facts of the present case with that in the case of Rajiv Kumar(supra) and Purshotam Kumar (supra) . Claim of exemption u/s 54B & 54F - Considering fair market value of property and relating to grant of benefit of cost of improvement of land, cannot be adjudicated at this juncture. These issues are, therefore, also restored to the Assessing Officer to be adjudicated upon afresh after deciding the main issue in the present appeal as per our directions with regard to ground No.1 raised by the assessee. The grounds of appeal Nos.2 to 4 are also, therefore, allowed for statistical purposes.
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