https://www.taxtmi.com/caselaws?id=389157 The court overturned the dismissal of the petition under Section 264 of the Income Tax Act, emphasizing the importance of factual verification for tax deductions. The petitioner's claim for deduction under Section 54B was initially rejected due to insufficient proof of agricultural activities. The court directed a reconsideration, allowing the petitioner to resubmit supporting documents within eight weeks for a fresh decision, highlighting the need for compliance with statutory provisions and factual evaluation for tax deductions. en-us Wed, 20 Nov 2019 00:00:00 +0530 Mon, 02 Dec 2019 16:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389157 The court overturned the dismissal of the petition under Section 264 of the Income Tax Act, emphasizing the importance of factual verification for tax deductions. The petitioner's claim for deduction under Section 54B was initially rejected due to insufficient proof of agricultural activities. The court directed a reconsideration, allowing the petitioner to resubmit supporting documents within eight weeks for a fresh decision, highlighting the need for compliance with statutory provisions and factual evaluation for tax deductions. Case-Laws Income Tax Wed, 20 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389157