2 results for “penalty u/s 271”+ Section 54Bclear
Sorted by relevance
In the result, the appeal of the assessee is allowed for statistical purposes
Bench: Shri Rajpal Yadav, Vice-(Kz) & Dr. Manish Borad
sections and on the basis of report received from the Land Acquisition Officer and Circle Officer, the land in question is taxable u/s 45(5) of the Income-tax Act,1961 as Capital Gain. However, the assessee claimed deduction u/s 54B of Rs. 1,00,00,000/- on account of purchase of agriculture land and Rs.25,05,763/-/-u/s