https://www.taxtmi.com/caselaws?id=169127 The appeals challenged the assessment of long-term capital gain and eligibility for exemption under section 54B. The Tribunal found in favor of the assessee, emphasizing joint ownership of the sold land with the son and the son's status as the sole legal heir. Despite conflicting High Court judgments, the Tribunal ruled that the assessee met the requirements for the deduction under section 54B. Proper consideration of submissions, including the assessee's age and agricultural background, led to the allowance of the appeals and the overturning of the Commissioner's decision. en-us Wed, 21 May 2014 00:00:00 +0530 Mon, 06 Apr 2015 21:53:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169127 The appeals challenged the assessment of long-term capital gain and eligibility for exemption under section 54B. The Tribunal found in favor of the assessee, emphasizing joint ownership of the sold land with the son and the son's status as the sole legal heir. Despite conflicting High Court judgments, the Tribunal ruled that the assessee met the requirements for the deduction under section 54B. Proper consideration of submissions, including the assessee's age and agricultural background, led to the allowance of the appeals and the overturning of the Commissioner's decision. Case-Laws Income Tax Wed, 21 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169127