https://www.taxtmi.com/caselaws?id=354047 The Tribunal allowed the deduction under section 54B for the sale of agricultural land, finding the land to be agricultural based on unchallenged evidence presented by the assessee. However, the Tribunal partially disallowed the deduction claimed under section 54F due to discrepancies in reported amounts and non-utilization of the deposited sum for house acquisition within the specified period. The Tribunal directed the Assessing Officer to grant the deduction for the deposited amount and address any unutilized sum in subsequent assessments. The stay petition by the assessee was dismissed. en-us Mon, 18 Dec 2017 00:00:00 +0530 Wed, 17 Jan 2018 12:02:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354047 The Tribunal allowed the deduction under section 54B for the sale of agricultural land, finding the land to be agricultural based on unchallenged evidence presented by the assessee. However, the Tribunal partially disallowed the deduction claimed under section 54F due to discrepancies in reported amounts and non-utilization of the deposited sum for house acquisition within the specified period. The Tribunal directed the Assessing Officer to grant the deduction for the deposited amount and address any unutilized sum in subsequent assessments. The stay petition by the assessee was dismissed. Case-Laws Income Tax Mon, 18 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354047