https://www.taxtmi.com/caselaws?id=447925 For section 54B, relief could not be sustained on an unregistered transfer arrangement for agricultural land, because the Tribunal read "transfer" with section 2(47) and applied the Supreme Court's ruling in Balbir Singh Maini to reject reliance on earlier contrary decisions. It also noted that a later affidavit and legal notices raised a fresh factual question whether the land exchanged by the assessee was Government land. That issue required verification by the Assessing Officer, so the matter was remanded for fresh examination of the exchanged land's nature and validity. en-us Mon, 30 Oct 2023 00:00:00 +0530 Mon, 08 Jan 2024 10:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447925 For section 54B, relief could not be sustained on an unregistered transfer arrangement for agricultural land, because the Tribunal read "transfer" with section 2(47) and applied the Supreme Court's ruling in Balbir Singh Maini to reject reliance on earlier contrary decisions. It also noted that a later affidavit and legal notices raised a fresh factual question whether the land exchanged by the assessee was Government land. That issue required verification by the Assessing Officer, so the matter was remanded for fresh examination of the exchanged land's nature and validity. Case-Laws Income Tax Mon, 30 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447925