https://www.taxtmi.com/caselaws?id=256572 The Tribunal allowed the Revenue's appeals, setting aside the CIT(A)'s order and directing the AO not to grant the exemption under section 54B. The main issue was the deletion of the addition of Capital Gains due to failure to meet the statutory conditions, particularly the continuous agricultural use requirement in the two years preceding the sale of the land. The Tribunal emphasized the necessity of continuous agricultural use for availing the exemption under section 54B, which was not met in this case. en-us Thu, 14 Aug 2014 00:00:00 +0530 Tue, 17 Feb 2015 08:40:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256572 The Tribunal allowed the Revenue's appeals, setting aside the CIT(A)'s order and directing the AO not to grant the exemption under section 54B. The main issue was the deletion of the addition of Capital Gains due to failure to meet the statutory conditions, particularly the continuous agricultural use requirement in the two years preceding the sale of the land. The Tribunal emphasized the necessity of continuous agricultural use for availing the exemption under section 54B, which was not met in this case. Case-Laws Income Tax Thu, 14 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256572