Assessee Qualifies for Section 54B Deduction on New Agricultural Land Bought with Sale Advances of Existing Land.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Deduction u/s 54B - investment made prior to the date of sale - Agriculture land- the assessee should be allowed the benefit of deduction under section 54B of the Act since the purchase in the new property has been made out of advances received towards sale of agricultural properties held by the assessee. - AT....