https://www.taxtmi.com/caselaws?id=774816 ITAT Amritsar dismissed revenue's appeal regarding LTCG on sale of residential land. The tribunal upheld CIT(A)'s decision granting benefit under section 54B to the assessee. Documentary evidence in regional language proved the transferred land was used for agricultural activities with various crops grown for more than two years preceding the transfer date. Sale proceeds were utilized to purchase another agricultural land. The tribunal confirmed that section 54B benefit is available when land used for agricultural activity for two years immediately preceding transfer date is sold and proceeds are reinvested in agricultural land. en-us Mon, 30 Jun 2025 00:00:00 +0530 Tue, 15 Jul 2025 08:39:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774816 ITAT Amritsar dismissed revenue's appeal regarding LTCG on sale of residential land. The tribunal upheld CIT(A)'s decision granting benefit under section 54B to the assessee. Documentary evidence in regional language proved the transferred land was used for agricultural activities with various crops grown for more than two years preceding the transfer date. Sale proceeds were utilized to purchase another agricultural land. The tribunal confirmed that section 54B benefit is available when land used for agricultural activity for two years immediately preceding transfer date is sold and proceeds are reinvested in agricultural land. Case-Laws Income Tax Mon, 30 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774816