https://www.taxtmi.com/caselaws?id=368162 In capital gains computation on agricultural land, the document states that an acted-upon agreement to sell, consideration, and subsequent delivery of possession support the substantive transfer, so later plot-wise sale deeds do not justify substituting value under section 50C where the land was sold as one holding. It further notes that section 54B relief may extend to reinvestment in agricultural land purchased in the names of the assessee's son and daughter, since the provision focuses on genuine use of sale proceeds for agricultural land and does not expressly require purchase only in the assessee's own name. On cost of acquisition, the assessee's unsupported valuation was partly rejected and the figure was revised upward only to a limited extent. en-us Fri, 28 Sep 2018 00:00:00 +0530 Wed, 03 Oct 2018 08:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368162 In capital gains computation on agricultural land, the document states that an acted-upon agreement to sell, consideration, and subsequent delivery of possession support the substantive transfer, so later plot-wise sale deeds do not justify substituting value under section 50C where the land was sold as one holding. It further notes that section 54B relief may extend to reinvestment in agricultural land purchased in the names of the assessee's son and daughter, since the provision focuses on genuine use of sale proceeds for agricultural land and does not expressly require purchase only in the assessee's own name. On cost of acquisition, the assessee's unsupported valuation was partly rejected and the figure was revised upward only to a limited extent. Case-Laws Income Tax Fri, 28 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368162