https://www.taxtmi.com/caselaws?id=447479 HC held that Section 54B deduction for LTCG on agricultural land investment cannot be claimed when purchase is made in spouse's name rather than assessee's own name. Court applied strict construction principle for exemption provisions, noting that wife cannot be considered as "assessee" under Section 2(7) of IT Act. Enlarging scope of assessee definition to include spouse would supersede legislative intent. Person claiming exemption must establish entitlement strictly per statutory requirements. ITAT decision denying deduction upheld. Appeal dismissed. en-us Fri, 15 Dec 2023 00:00:00 +0530 Wed, 27 Dec 2023 22:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447479 HC held that Section 54B deduction for LTCG on agricultural land investment cannot be claimed when purchase is made in spouse's name rather than assessee's own name. Court applied strict construction principle for exemption provisions, noting that wife cannot be considered as "assessee" under Section 2(7) of IT Act. Enlarging scope of assessee definition to include spouse would supersede legislative intent. Person claiming exemption must establish entitlement strictly per statutory requirements. ITAT decision denying deduction upheld. Appeal dismissed. Case-Laws Income Tax Fri, 15 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447479