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2 results for “section 68”+ Section 54Bclear

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Key Topics

Section 143(3)4Section 54B4Section 69A3Long Term Capital Gains2Deduction2Addition to Income2

INCOME TAX OFFICER WARD-2 (2), MUKTSAR vs. AJAIB SINGH, VILLAGE BHARU

In the result, the appeal of the revenue is dismissed

ITA 354/ASR/2024[2012]Status: DisposedITAT Amritsar30 Jun 2025

Bench: Sh. Udayan Dasgupta & Sh. Krinwant Sahay(Hybrid Hearing) I.T.A. No. 354/Asr/2024 Assessment Year: 2012-13

Section 143(3)Section 2(14)(iii)Section 250Section 54B

68,15,000/-. The Assessee had submitted that the sale consideration received by him was utilised for purchase of 24 acres 1 Kanai agricultural land at village Daulatpura, Tehsil Abohar for Rs.3,73,48,255/- and claimed benefit of section 54B

SHRI RAJIV KUMAR KHANNA ,ABOHAR vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-II, BATHINDA

Accordingly, the ground no. 2 of the appellant assessee stands dismissed as not pressed

ITA 256/ASR/2018[2011-12]Status: DisposedITAT Amritsar25 Aug 2022AY 2011-12

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Anil Puri, AdvFor Respondent: Sh. Manpreet Singh Duggal, Sr. DR
Section 131Section 143(3)Section 54BSection 68Section 69Section 69A

54B of the Income Tax Act, 1961. 3. That the Ld. CIT(Appeals) was further unjustified while confirming the addition of Rs.95.17,875 (1,40,17,875 - 45,00,000), made by the Assessing Officer, as income from other sources under section 69A of the Income Tax Act, 1961, based on assumptions and presumptions without any material evidence