TaxTMI 
TaxTMI 
2026 (5) TMI 828
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....g from records are that the assessee and has filed his return declaring income at NIL. 2.1 On the basis of information received from ITO/ I & C I, Chandigarh that the assessee has sold land located within the municipal limits of Bhatinda, on 07th December, 2012, along with five other co-owners, the assessee's share in the said transaction of sale being Rs. 41.67 lakhs, reassessment proceedings has been initiated vide notice u/s 148 of the Act on 30.03.2021 (as per procedure) in response to which, the assessee filed his return on 15.07.2021 declaring total income at NIL in respect of which recorded reasons obtained, objections filed and disposed off. 2.2 The assessee has claimed deduction u/s 54B of the Act against the sale of his port....
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.... agricultural land which is situated within the specified limits provided in Section 2(14) of the Act and deduction u/s 548 of the Act is available with respect to the capital gain arising from transfer of such land subject to the fulfilment of conditions specified therein. The appellant further submitted that he satisfies all the conditions prescribed in Section 548 of the Act i.e. the impugned land sold was an agricultural land which was having canal water as the source of irrigation. Further, the land purchased subsequently was also an agricultural land and hence the conditions in Section 54B of the Act are met for claiming deduction. Though the appellant claims that the impugned land sold during the relevant FY and land purchased subseq....
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....duced as below: "1. That the documents submitted in the shape of Girdawri by the appellant, indicating that the land sold was actually used for agricultural purposes in preceding 5 years, is sufficient to become eligible for claiming exemption u/s 54B. Thus, denying such exemption is bad in law. 2. That the Revenue has already accepted the fact that capital gain on sale of urban agricultural land is eligible for exemption u/s 54B in the case of sale of same land by all the co-owners and in the same financial year. Therefore, the Revenue has blown hot & cold by rejecting the exemption in the hands of appellant and is bad-in-law." 5. In course of hearing before the tribunal, the Ld. AR of the assessee has filed a short pa....
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....pecified, that the area of land held the description of the land chai where kharif crop is cultivated such as cotton and wheat for the year 2008-09, 2009-10, 2010-11 and 2011-12 but he pointed out that the khasra record of the assessee Mr. Gurbhagat Singh is 2297 and as per the Girdawari and the revenue records, it is not certified whether any cultivation took place on such land and what of the crop that has been grown on such land, because that part has been left blank ( copy of the said blank part is made a part of this order ). He further submitted that under the circumstances it is not proved by any documentary evidences that the said part of the land sold by the assessee ( Khasra 2297 ) was under actual cultivation and was used for ....
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.... 07.04.2026 under Rule 34(4) of the Income Tax Appellate Tribunal Rules 1963. ============= Document 1 English Version from Penjebi Script Mutation Copy of Gintawri Kharil Voor 2007-2008, Village, Bathina, Telil Bathinda Disit Bachleda Mutation Rabl Khart M.Itati Khari Crops Sount Crops Crops & No. o possession Owner of description Tas piove descripsina including Khutauno land as per Crop & Crops & possessi kinil Everest Crop & trui Crops Iron Sounl NO of & No. of tree Inieeds Crops A No. & No. o Fruit & No of Frui trece Fruit & Imerest 2869 20399 201 2010 2011 2011 2012 2012- 2012 Eurial Ningh SoHe Chasl 197 Cultivate - 11 12 11 14 15 T7 TO TU 10-10 10-19 vacel VOLIEB 10-19 VOCAL 10-10 V....
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....ingh, of Hakan Mahinder Singh Singh oqual 1/16 Balwieder hare Singh equal 157 purchaser 6690 Jeet Singh Singt Singh Gurbukh Badan Seller Jont Singh Chand Singh 50 Rattan Singh share, Jawvir Widow 22-10 4-10 Netri 22-10 OM 4-10 Varm 22-10 GM 4.10 Vacate 22.10 GM 4-10 Vacate 22-10 GM 4.10 Vacate 22-10 4-10 Vacale 6M 22-10 GM 4-10 Vacate 22:10 CM 22-10 GM +10 Vacate 22-H OM 4-10 Vacate 22-10 CM 4-10 Vacate Cottan Sucha Singh. Bhag Singh Sons of Partap Singh equal share Gurbaksh Singh. Kamail Kartar Singh Narain Singh 13 share Darshan Singh, Mahinder Singh, Balwinkler Singh Sons Catter Singh of Gurdey Baden Singh Sinth Sons share, of Kahan Singh cultivarors 66.89 thir Sucha Mukand Singh etc Kace seller widow & ....