https://www.taxtmi.com/caselaws?id=3676 For exemption under section 54B, the two-year investment period is to be computed from the date on which compensation is actually received, not from the date of compulsory transfer or vesting, because the provision is beneficial and must be applied to avoid depriving the assessee of relief due to delayed payment. The finding that the agricultural land was transferred on 26.06.1977 was treated as a factual conclusion supported by the record. The value of the tube-well and standing trees was also held to form part of the agricultural land investment and was not deductible from the qualifying purchase consideration. The exemption was thus upheld on all material issues. en-us Thu, 04 Oct 2007 00:00:00 +0530 Sun, 27 Jul 2008 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3676 For exemption under section 54B, the two-year investment period is to be computed from the date on which compensation is actually received, not from the date of compulsory transfer or vesting, because the provision is beneficial and must be applied to avoid depriving the assessee of relief due to delayed payment. The finding that the agricultural land was transferred on 26.06.1977 was treated as a factual conclusion supported by the record. The value of the tube-well and standing trees was also held to form part of the agricultural land investment and was not deductible from the qualifying purchase consideration. The exemption was thus upheld on all material issues. Case-Laws Income Tax Thu, 04 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3676