Appeal is dismissed
Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2015-16 Leeladhar Palasiyawala, Pr.Cit-1, Village Kalariya, Post Indore बनाम/ Kalariya, Vs. Indore. (Assessee / Appellant) (Revenue / Respondent) Pan: Bqdppo511K Assessee By Shri Ashish Goyal, Ca & Shri N. D. Patwa, Adv. Revenue By Shri Ashish Porwal, Sr. Dr Date Of Hearing 11.10.2023 Date Of Pronouncement 19.12.2023
capital gain. While filing return, the assessee declared his share in long-term gain but claimed exemption u/s 54B on the basis of new investment made in two agricultural lands, namely (i) Rs. 48,00,000/- invested in 1st agricultural land, and (ii) Rs. 14,20,000/- (correct amount should be Rs. 14,16,360/-) invested in 2nd land