In the result, the appeal of the assessee is allowed
Bench: Dr. Manish Borad & Ms. Astha Chandraआयकर अपील सं. / Ita No.1678/Pun/2024 धििाारण वर्ा / Assessment Year: 2014-15 Ranajit Suresh Rajamane, Vs Ito Ward 1, Shukrawar Peth, Pandharpur Tembhurni Madha Solapur- 413211 Maharashtra Pan-Bmepr3878N Appellant Respondent
reassessment proceedings the assessee has claimed that he is eligible for deduction u/s 54B of the Act as he has utilized 50% share of the sale consideration from sale of urban agricultural land for purchase of another agricultural land within a period of two years from the date of sale of land. The assessee claim of having invested