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2019 (1) TMI 536 - AT - Income TaxNature of land sold - Treating the sale of agricultural land as sale of capital asset - Held that:- There is no dispute with regard to the fact that Ld. CIT(A) has considered the certificate of the revenue official who has categorically stated that the land in question do not fall within 4 kms. of the limit of Mhau Cantonment Board. Further, it is noticed that Ld. CIT(A) has duly considered the objections of the AO and rejected the same on the basis of notification. The revenue has not controverted this finding by placing any contrary material. The finding of the CIT(A) is based upon the notifications issued by the competent authority. No infirmity into the finding of the CIT(A) and the same is hereby affirmed. Ground of the revenue’s appeal is dismissed. Allowability of deduction u/s 54B - Held that:- We find that the assessee had raised issue of recording of satisfaction by the assessing officer of the searched person as well as allowability of deduction u/s 54B of the Act. Both these grounds have not been adjudicated by the Ld. CIT(A). We are of the view that the CIT(A) ought to have adjudicated this ground. Therefore, respectfully following the judgement in the case of CIT Vs. Tolaram Hassomal (2006 (3) TMI 136 - MADHYA PRADESH HIGH COURT) we restore both the grounds to the file of the A.O. to decide the case afresh.
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