https://www.taxtmi.com/caselaws?id=765941 The ITAT Jodhpur allowed the assessee's claim for exemption under section 54B on sale of agricultural land. The tribunal found that the entire land parcel was an integrated agricultural asset, supported by the assessee's demonstrated agricultural income in previous years and an independent report from halka Patwari confirming agricultural activities. Despite revenue's contention that only part of the land was used for agriculture, the tribunal held that capital gains from sale of agricultural land qualified for section 54B exemption, as the assessee had reinvested in new agricultural land and deposited surplus funds in the Capital Gain Scheme. en-us Mon, 23 Sep 2024 00:00:00 +0530 Thu, 13 Feb 2025 08:36:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765941 The ITAT Jodhpur allowed the assessee's claim for exemption under section 54B on sale of agricultural land. The tribunal found that the entire land parcel was an integrated agricultural asset, supported by the assessee's demonstrated agricultural income in previous years and an independent report from halka Patwari confirming agricultural activities. Despite revenue's contention that only part of the land was used for agriculture, the tribunal held that capital gains from sale of agricultural land qualified for section 54B exemption, as the assessee had reinvested in new agricultural land and deposited surplus funds in the Capital Gain Scheme. Case-Laws Income Tax Mon, 23 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765941