https://www.taxtmi.com/caselaws?id=56312 Land already treated as agricultural in related wealth-tax proceedings was held to retain its agricultural character on the applicable land-character tests, so the assessee succeeded on that issue. Relief under section 54B, however, was held to be confined to an individual assessee: because the provision contemplates use of land by the assessee or a parent, it was held that a Hindu undivided family cannot claim the exemption. The agricultural-land finding therefore stood in favour of the assessee, but the capital gains exemption under section 54B was denied to the HUF. en-us Tue, 21 Oct 1986 00:00:00 +0530 Fri, 03 Dec 2010 10:04:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56312 Land already treated as agricultural in related wealth-tax proceedings was held to retain its agricultural character on the applicable land-character tests, so the assessee succeeded on that issue. Relief under section 54B, however, was held to be confined to an individual assessee: because the provision contemplates use of land by the assessee or a parent, it was held that a Hindu undivided family cannot claim the exemption. The agricultural-land finding therefore stood in favour of the assessee, but the capital gains exemption under section 54B was denied to the HUF. Case-Laws Income Tax Tue, 21 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56312