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Exemption u/s 54B - The plain language of Section 54B requires the land sold to have been in use by the assessee or by his parents or the HUF for agricultural purposes for a period of two years immediately preceding the date on which the transfer took place. There is nothing in this section that bifurcates the period of the use during these two years. - HC

Income Tax - Exemption u/s 54B - The plain language of Section 54B requires the land sold to have been in use by the ass .....

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