https://www.taxtmi.com/caselaws?id=283871 ITAT Delhi examined two issues in an income-tax article note: first, additional evidence on the fair market value of agricultural land as on 01.04.1981 could be admitted because the assessee had not had adequate opportunity before the Assessing Officer, but the valuation certificate lacked a reliable evidentiary basis, so the adopted value was set aside and the matter remitted for reference under section 55A and fresh computation; second, exemption under section 54B was not available where the new agricultural land was purchased before receipt of the sale consideration from the original transfer, as the statutory investment condition was not satisfied. en-us Fri, 21 Oct 2016 00:00:00 +0530 Sat, 19 Oct 2019 11:39:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283871 ITAT Delhi examined two issues in an income-tax article note: first, additional evidence on the fair market value of agricultural land as on 01.04.1981 could be admitted because the assessee had not had adequate opportunity before the Assessing Officer, but the valuation certificate lacked a reliable evidentiary basis, so the adopted value was set aside and the matter remitted for reference under section 55A and fresh computation; second, exemption under section 54B was not available where the new agricultural land was purchased before receipt of the sale consideration from the original transfer, as the statutory investment condition was not satisfied. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283871