https://www.taxtmi.com/caselaws?id=67090 The Tribunal ruled in favor of the appellant, holding that the sale of agricultural land was genuine and not subject to capital gains tax. The Department failed to prove the transaction as benami, and the Tribunal found that the consideration was received by the seller, not the assessee. As a result, the appeal was partially allowed, with the Tribunal rejecting the Department's arguments and supporting the appellant's claim for exemption under section 54B. en-us Thu, 19 Dec 1985 00:00:00 +0530 Wed, 09 Mar 2011 10:33:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67090 The Tribunal ruled in favor of the appellant, holding that the sale of agricultural land was genuine and not subject to capital gains tax. The Department failed to prove the transaction as benami, and the Tribunal found that the consideration was received by the seller, not the assessee. As a result, the appeal was partially allowed, with the Tribunal rejecting the Department's arguments and supporting the appellant's claim for exemption under section 54B. Case-Laws Income Tax Thu, 19 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67090