https://www.taxtmi.com/caselaws?id=359370 The appellant challenged the disallowance of deduction under Section 54B for capital gain on the transfer of land used for agricultural purposes. The Tribunal upheld the Assessing Officer's decision, citing the lack of evidence of agricultural activity on the lands in question in the two years preceding the sale. The CIT(A) and the High Court concurred with the Tribunal's findings, leading to the dismissal of the appeals. The case outcome was influenced by the absence of proof supporting agricultural use, resulting in no substantial question of law identified based on the concurrent conclusions reached. en-us Tue, 17 Apr 2018 00:00:00 +0530 Sat, 28 Apr 2018 08:04:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359370 The appellant challenged the disallowance of deduction under Section 54B for capital gain on the transfer of land used for agricultural purposes. The Tribunal upheld the Assessing Officer's decision, citing the lack of evidence of agricultural activity on the lands in question in the two years preceding the sale. The CIT(A) and the High Court concurred with the Tribunal's findings, leading to the dismissal of the appeals. The case outcome was influenced by the absence of proof supporting agricultural use, resulting in no substantial question of law identified based on the concurrent conclusions reached. Case-Laws Income Tax Tue, 17 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359370