TMI Blog2023 (11) TMI 444X X X X Extracts X X X X X X X X Extracts X X X X ..... arang, Adv. For the Revenue : Shri Baldev Singh Negi, Sr. D.R. ORDER PER SHAMIM YAHYA, AM : This appeal filed by the assessee is directed against the order of Learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC)-Delhi dated 13.06.2023 pertaining to Assessment Year 2011-12. 2. The grounds of appeal filed by assessee, which reads as under: 1. That the ld. Commissioner of Income Tax (Appeals) is erred in law and otherwise on facts and circumstances of the case while holding and denying to allow benefit of section 54B being the entire consideration received in sale of agricultural land (original assets) and invested the same in purchase of another agriculture land, certainly in the na ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d confirmed the order of AO. Against this, assessee is in appeal before the ITAT. 5. At the outset, the learned Counsel for the assessee referred the decision of Ashok Kumar vs. ITO in ITA No.7460/Del/2018 for A.Y. 2009-10 vide order dated 28.12.2022. 6. Learned DR on the other hand, referred to the dismissal of SLP by Hon ble Supreme Court in the case of Bahadur Singh vs. CIT(A) [2023] 154 taxmann.com 457 (SC) wherein the Supreme Court has dismissed the SLP against the order of Punjab and Haryana High Court, wherein purchase of agriculture land in the name of assessee s wife was not to be allowed under section 54B relief to assessee. 7. We have heard both the parties and perused the material on record. We note that ITAT in the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urts including the Hon'ble Delhi High Court have clearly and categorically held that deduction under Section 54B/54F of the Act is available in cases where investments are made in property purchased in the name of wife. Therefore, following the ratio laid down in these decisions, I hold that the assessee is eligible for deduction under Section 54B of the Act. Accordingly, I direct the Assessing Officer to allow deduction under Section 54B of the Act. 10. In the result, the appeal is partly allowed. 8. We further note that in the decision relied upon by the Learned Departmental Representative, it was a dismissal of SLP simpliciter by Hon ble Apex Court against the decision of Hon ble Punjab Haryana High Court. We note that di ..... X X X X Extracts X X X X X X X X Extracts X X X X
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