https://www.taxtmi.com/caselaws?id=384794 The Tribunal allowed the assessee's appeal, granting the deduction under Section 54B for the investment in new agricultural land made within the extended period under Section 139(4). The Tribunal emphasized the importance of the spirit of the law and the genuine circumstances that delayed the investment. The issue of whether the land was a capital asset under Section 2(14)(iii) was not addressed in detail as the primary relief was granted under Section 54B. en-us Fri, 12 Apr 2019 00:00:00 +0530 Thu, 22 Aug 2019 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384794 The Tribunal allowed the assessee's appeal, granting the deduction under Section 54B for the investment in new agricultural land made within the extended period under Section 139(4). The Tribunal emphasized the importance of the spirit of the law and the genuine circumstances that delayed the investment. The issue of whether the land was a capital asset under Section 2(14)(iii) was not addressed in detail as the primary relief was granted under Section 54B. Case-Laws Income Tax Fri, 12 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384794