CHANDARA SHEKAR MUNI REDDY KANNELLI,BANGALORE vs. ACIT, CIRCLE-4(2)(3), BANGALORE

ITA 2351/BANG/2025Status: DisposedITAT Bangalore28 August 2026AY 2018-195 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee had received the sale consideration on the date of the sale agreement and had invested it in new agricultural land the next day. Therefore, the condition of investing within two years of sale was satisfied, entitling the assessee to the deduction.

What were the facts?

The assessee, an agriculturist, claimed deduction under Section 54B for purchasing new agricultural land. The Assessing Officer (AO) denied the deduction, stating the land sold was not used for agricultural purposes and the new land was not purchased within two years of the sale. The CIT(A) agreed with the AO on the timing of the purchase.

What were the issues?

Whether the purchase of new agricultural land was made within the stipulated period from the sale of the old agricultural land for claiming deduction under Section 54B.

Which sections of the Income-tax Act were involved?

Section 54B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, BANGALORE BENCHES, BANGALORE

Before: SHRI BALAKRISHNAN S & SHRI SOUNDARARAJAN K.

PER SHRI SOUNDARARAJAN K., JUDICIAL MEMBER:

This is an appeal filed by the assessee challenging the order of the NFAC, Delhi dated 10/09/2025 in respect of the A.Y. 2018-19. 2. The brief facts of the case are that the assessee is an agriculturist and also derives small income from business and income from house property. The assessee filed his return of income on 29/08/2018. Thereafter, his case was sele

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 54B

All 814 judgments and leading authorities on Section 54B →

Recent GST High Court judgments

Search GST case law →