Agricultural Land purchased in Name of Wife Eligible for Capital Gain Deduction u/s 54B of Income Tax Act: ITAT [Read Order]

ITAT allows the long-term capital gain deduction for the purchase of agricultural land in the name of the assessee’s wife

By Sunayana Dhal - On December 22, 2023 2:34 pm - 2 mins read

Agricultural Land purchase - Land purchased in name of wife - Capital Gain Deduction - Agricultural Land - Eligiblity for Capital Gain Deduction - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the agricultural land purchased in the name of the wife is eligible for capital gain deduction under Section 54B of the Income Tax Act, 1961. The assessee has sold agricultural land wherein Long-Term Capital Gain (LTCG) came to Rs.12,78,456/-. Assessee claimed that he…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?

Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)

₹1199 + GST for 1 year

Subscribe Now

Topics