Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (2) TMI 2052 - AT - Income TaxDeduction u/s 54B - Denial of deduction as purchase of agricultural land in the name of assessee’s son - agricultural land sold by the assessee was a property of HUF and the agricultural land was also purchased for the HUF in the name of son of the assessee who were the coparceners of the HUF - HELD THAT:- In the present case, it is noticed that a similar issue has been already decided by ITAT Chandigarh Bench in case of Dalbir Singh [2018 (9) TMI 2096 - ITAT CHANDIGARH] assessee is an illiterate and old retired person, the sale proceeds from the agricultural land belonging to the family, were invested in purchase of the agricultural land in the name of the sons who were co-parceners in the HUF of the assessee. So the impugned order is set aside and the AO is directed to allow the claim of the assessee for deduction under section 54B. - Decided in favour of assessee.
|