Capital Gain Exemption u/s 54B cannot be claimed for Agricultural Land purchased in Wife’s Name: ITAT [Read Order]

Capital Gain Exemption - Agricultural Land purchased - Wife’s Name - ITAT - taxscan

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the capital gain exemption under section 54B of the Income Tax Act, 1961 cannot be claimed for the agricultural land purchased in the name of the wife of the assessee. The assessee, Mr. Karamvir, while filing his return of income has claimed…

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