https://www.taxtmi.com/caselaws?id=420036 The Tribunal allowed the deduction under section 54B of the Income-tax Act, reversing the CIT(A)'s decision, as the land was used for agricultural purposes in the two years preceding the transfer. The Tribunal remanded the issue of the indexed cost of improvement back to the A.O. for further verification and re-adjudication. The appeal was partly allowed for statistical purposes. en-us Mon, 21 Mar 2022 00:00:00 +0530 Fri, 25 Mar 2022 08:35:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420036 The Tribunal allowed the deduction under section 54B of the Income-tax Act, reversing the CIT(A)'s decision, as the land was used for agricultural purposes in the two years preceding the transfer. The Tribunal remanded the issue of the indexed cost of improvement back to the A.O. for further verification and re-adjudication. The appeal was partly allowed for statistical purposes. Case-Laws Income Tax Mon, 21 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420036