https://www.taxtmi.com/caselaws?id=306508 The Appellate Tribunal ITAT Chennai remitted the issue back to the Assessing Officer for a fresh examination regarding the claim of exemption under Section 54B of the Income-tax Act, 1961. The Tribunal emphasized the importance of verifying evidence provided by the assessee, particularly the Adangal extract indicating cultivation activities on the land. The Tribunal directed the Assessing Officer to thoroughly re-examine the matter, considering all evidence and giving the assessee a fair opportunity to present their case. The Tribunal allowed the appeal filed by the Revenue for statistical purposes and dismissed the cross-objection filed by the assessee. en-us Thu, 28 Dec 2017 00:00:00 +0530 Sat, 04 Feb 2023 22:32:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306508 The Appellate Tribunal ITAT Chennai remitted the issue back to the Assessing Officer for a fresh examination regarding the claim of exemption under Section 54B of the Income-tax Act, 1961. The Tribunal emphasized the importance of verifying evidence provided by the assessee, particularly the Adangal extract indicating cultivation activities on the land. The Tribunal directed the Assessing Officer to thoroughly re-examine the matter, considering all evidence and giving the assessee a fair opportunity to present their case. The Tribunal allowed the appeal filed by the Revenue for statistical purposes and dismissed the cross-objection filed by the assessee. Case-Laws Income Tax Thu, 28 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306508