https://www.taxtmi.com/article/detailed?id=7631 Section 54B conditions exemption on the assessee purchasing replacement agricultural land within two years 'for being used for agricultural purposes' and prescribes deposit and utilisation rules for unutilised sale proceeds; judicial authorities split on whether acquisitions in third-party names satisfy the requirement, but a literal statutory reading treats purchase in the assessee's own name as the qualifying condition and applies the deposit/utilisation consequence where proceeds are not applied within the statutory period. en-us Tue, 26 Sep 2017 07:49:46 +0530 Tue, 26 Sep 2017 07:49:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7631 Section 54B conditions exemption on the assessee purchasing replacement agricultural land within two years 'for being used for agricultural purposes' and prescribes deposit and utilisation rules for unutilised sale proceeds; judicial authorities split on whether acquisitions in third-party names satisfy the requirement, but a literal statutory reading treats purchase in the assessee's own name as the qualifying condition and applies the deposit/utilisation consequence where proceeds are not applied within the statutory period. Articles Income Tax Tue, 26 Sep 2017 07:49:46 +0530 https://www.taxtmi.com/article/detailed?id=7631