https://www.taxtmi.com/caselaws?id=408376 The Tribunal allowed the appeal, directing the AO to delete the addition made by denying the exemption under section 54B of the Income Tax Act, 1961. The Tribunal emphasized consistency in treating co-owners' claims and found the evidence provided by the assessee, including the third party affidavit and land use documents, to be sufficient. The judgment highlighted the Revenue's burden to disprove the assessee's claims with concrete evidence. en-us Mon, 31 May 2021 00:00:00 +0530 Wed, 09 Jun 2021 09:25:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408376 The Tribunal allowed the appeal, directing the AO to delete the addition made by denying the exemption under section 54B of the Income Tax Act, 1961. The Tribunal emphasized consistency in treating co-owners' claims and found the evidence provided by the assessee, including the third party affidavit and land use documents, to be sufficient. The judgment highlighted the Revenue's burden to disprove the assessee's claims with concrete evidence. Case-Laws Income Tax Mon, 31 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408376