https://www.taxtmi.com/highlights?id=71929 Deduction u/s 54B - reinvestment of the sale proceeds of the agricultural land - The fact that the agricultural lands were situated within the 8 kilometres from the Municipal Corporation of Pune remain uncontroverted. In the circumstances, the order of the NFAC cannot be sustained in the eyes of law. Thus, the respondent-assessee had failed to discharge the onus of proving that the lands sold were agricultural lands. - Additions made by AO restored - AT en-us Mon, 11 Sep 2023 18:17:49 +0530 Mon, 11 Sep 2023 18:17:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71929 Deduction u/s 54B - reinvestment of the sale proceeds of the agricultural land - The fact that the agricultural lands were situated within the 8 kilometres from the Municipal Corporation of Pune remain uncontroverted. In the circumstances, the order of the NFAC cannot be sustained in the eyes of law. Thus, the respondent-assessee had failed to discharge the onus of proving that the lands sold were agricultural lands. - Additions made by AO restored - AT Highlights Income Tax Mon, 11 Sep 2023 18:17:49 +0530 https://www.taxtmi.com/highlights?id=71929