https://www.taxtmi.com/caselaws?id=298210 Section 54B exemption was upheld where the assessee received substantial sale consideration under an agreement to sell and used it to purchase other agricultural land before execution of the sale deed; the Tribunal treated the timing objection as hyper-technical and accepted the substantive compliance with the reinvestment requirement. By contrast, partial relief for land development expenses was not sustained because additional evidence had been accepted by the Commissioner (Appeals) without following rule 46A or giving the Assessing Officer an opportunity to verify it, so the matter was restored for fresh adjudication on proper evidentiary footing. en-us Mon, 27 May 2013 00:00:00 +0530 Tue, 25 Apr 2023 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298210 Section 54B exemption was upheld where the assessee received substantial sale consideration under an agreement to sell and used it to purchase other agricultural land before execution of the sale deed; the Tribunal treated the timing objection as hyper-technical and accepted the substantive compliance with the reinvestment requirement. By contrast, partial relief for land development expenses was not sustained because additional evidence had been accepted by the Commissioner (Appeals) without following rule 46A or giving the Assessing Officer an opportunity to verify it, so the matter was restored for fresh adjudication on proper evidentiary footing. Case-Laws Income Tax Mon, 27 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298210