https://www.taxtmi.com/caselaws?id=182460 The reassessment u/s 147 for non-declaration of capital gain on the sale of agricultural land was deemed valid as the original assessment under u/s 143(1)(a) did not amount to a change of opinion. The denial of deduction u/s 54B for the HUF was overturned by the Tribunal, holding that section 54B does not restrict the deduction to specific types of assessees, unlike section 54. The Tribunal directed the Assessing Officer to grant the deduction to the HUF as per law. en-us Fri, 21 Sep 2007 00:00:00 +0530 Wed, 11 May 2016 12:23:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182460 The reassessment u/s 147 for non-declaration of capital gain on the sale of agricultural land was deemed valid as the original assessment under u/s 143(1)(a) did not amount to a change of opinion. The denial of deduction u/s 54B for the HUF was overturned by the Tribunal, holding that section 54B does not restrict the deduction to specific types of assessees, unlike section 54. The Tribunal directed the Assessing Officer to grant the deduction to the HUF as per law. Case-Laws Income Tax Fri, 21 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182460