SUSHILA BHAURAO DESHMUKH,AMRAVATI vs. PRINCIPAL COMMISSIONER OF INCOME TAX-1, NAGPUR
In the result, appeal filed by the assessee is allowed
ITA 76/NAG/2022[2017-18]Status: DisposedITAT Nagpur20 Sept 2024AY 2017-18
Bench: Shri V. Durgarao & Shrik.M. Roy, Accountant, Member
For Appellant: ShriK.P. DewaniFor Respondent: Shri Sandeep Salunke
Section 143(3)Section 263Section 263(1)Section 54BSection 54E
54B of the Act on account of purchase of new agriculture land of `1,73,32,940. In lieu thereof, the assessee also claimed exemption under section 54ECof the Act at `50,00,000, for purchase of REC Bonds. Since, the land sold is a piece of plot with residential house property
