https://www.taxtmi.com/caselaws?id=438032 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to grant the deduction under Section 54B of the Income Tax Act for capital gains on agricultural land transfer. It directed the AO to compute capital gains based on the actual sale consideration without invoking Section 50C. The Tribunal also condoned the assessee's delay in filing the cross appeal, allowing it to be heard on its merits. en-us Thu, 18 May 2023 00:00:00 +0530 Sat, 20 May 2023 08:50:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438032 The Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to grant the deduction under Section 54B of the Income Tax Act for capital gains on agricultural land transfer. It directed the AO to compute capital gains based on the actual sale consideration without invoking Section 50C. The Tribunal also condoned the assessee's delay in filing the cross appeal, allowing it to be heard on its merits. Case-Laws Income Tax Thu, 18 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438032