2026 (1) TMI 1254

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....ent : Shri Khitesh Gupta, Sr. DR ORDER PER MANISH AGARWAL, AM: Both the captioned appeals are filed by the Assessee against the order of Learned Commissioner of Income Tax (Appeals) National Faceless Appeal Centre (NFAC), Delhi ('the CIT(A)' in short) both dated 11/02/2025 and arising out of the order passed u/s 147/143(3) of the Income Tax Act, 1961 ('the Act' for short) for Assessment Y....

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....nd for Rs. 5,00,00,000/- out of which assessee share was of Rs. 55,55,555/- (1/9 share). The assessee claimed deduction u/s 54B of the Act out of the capital gains being invested in the acquisition of new agricultural land which was denied on the ground that the assessee had purchased new land in the name of his wife. 4. Against the said order, the assessee filed appeal before the Ld. CIT(A) wh....

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....e legal pronouncement. 4. That the Ld. CIT(Appeals) erred in law while confirming the addition made by the assessing officer in the assessment order. 5. The appellant craves leave to add, delete and modify any ground of appeal at the time of/before the hearing of the appeal and all the grounds are mutually exclusive of each other." 5. Heard both the parties and perused the mat....

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....njab and Haryana High Court, of Bahadur Singh vs. CIT(A) (supra) was challenged by the assessee in SLP before the hon'ble Apex court which was dismissed by the Hon'ble Court as reported in [2023] 154 taxman.com 457 (SC). 6. In view of above, we find no error in the order of Ld. CIT(A) in confirming the denial of deduction u/s 54B as the assessee had purchased the new agricultural land in the na....