1980 (4) TMI 193

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....led to relief under s. 54B of the IT act, 1961. 2. The assessee is an individual. The assessee has received on partition in May, 1974 certain agricultural lands. Those lands were acquired by the Government in Feb., 1975. With the compensation received the assessee purchased two other pieces of agricultural lands and 9th Feb., 1977 and claimed that the sum of Rs. 78,929 incurred for the purchase....

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....he only objection of the Revenue in this appeal is that the lands having been held by an HUF prior to the partition, it cannot be considered or used either by the assessee or his parent as required by s.54B. Reliance was placed on the decision in Shri Gopal Rameshwardas(1). On the other hand, it was contended on behalf of the assessee that conditions under s. 54B having been fulfilled the assessee....

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....e land was continuously used by the assessee for agricultural purposes after the partition in May, 1974 and by his parent and himself before the partition. The contention of the Revenue is that the use of the land for agricultural purposes by the assessee and his father jointly prior to the partition should be ignored on the ground it was held by a Hindu undivided family which is a separate unit o....