https://www.taxtmi.com/caselaws?id=377130 The Tribunal upheld the denial of deduction under section 54G of the Income Tax Act for the appellant, an industrial undertaking engaged in wheat production, due to the absence of any notified "urban areas" in Kerala State. The appellant's claim for deduction of long-term capital gains arising from the sale of land was disallowed by the Assessing Officer and confirmed by the CIT(A), emphasizing the strict adherence to statutory requirements for claiming deductions on capital gains. The Tribunal dismissed the appeal, affirming the denial of the deduction and upholding the CIT(A)'s order. en-us Tue, 19 Mar 2019 00:00:00 +0530 Sat, 23 Mar 2019 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377130 The Tribunal upheld the denial of deduction under section 54G of the Income Tax Act for the appellant, an industrial undertaking engaged in wheat production, due to the absence of any notified "urban areas" in Kerala State. The appellant's claim for deduction of long-term capital gains arising from the sale of land was disallowed by the Assessing Officer and confirmed by the CIT(A), emphasizing the strict adherence to statutory requirements for claiming deductions on capital gains. The Tribunal dismissed the appeal, affirming the denial of the deduction and upholding the CIT(A)'s order. Case-Laws Income Tax Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377130