HARIHAR PRASAD,PATNA vs. ITO WARD 4 (4), PATNA

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

Bench: Shri George Mathan & Shri Rakesh Mishra

properties and also constructed residential house out of the compensation received. The assessee has also submitted purchase deed. Therefore, assessee is entitled to get exemption under section 54B and 54F of the Income Tax Act. The Assessing Officer simply overlooked the submission of the appellant and add Rs.2,41,50,000/- as capital gain and assessed income ITA No.: 268/PAT/2023