https://www.taxtmi.com/caselaws?id=376618 The ITAT dismissed the appellant's appeal, affirming the lower authorities' decision that exemption under Sec 54G was not applicable as the transfer did not meet the requirement of moving from an urban to a non-urban area. The court emphasized the legislative intent of promoting industrialization in underdeveloped non-urban areas and concluded that the appellant failed to satisfy the primary condition for the exemption. The judgment was delivered on 08/03/2019. en-us Fri, 08 Mar 2019 00:00:00 +0530 Wed, 13 Mar 2019 09:16:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376618 The ITAT dismissed the appellant's appeal, affirming the lower authorities' decision that exemption under Sec 54G was not applicable as the transfer did not meet the requirement of moving from an urban to a non-urban area. The court emphasized the legislative intent of promoting industrialization in underdeveloped non-urban areas and concluded that the appellant failed to satisfy the primary condition for the exemption. The judgment was delivered on 08/03/2019. Case-Laws Income Tax Fri, 08 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376618