9911796707
TMI Blog1980 (4) TMI 193X X X X Extracts X X X X X X X X Extracts X X X X ..... . The assessee has received on partition in May, 1974 certain agricultural lands. Those lands were acquired by the Government in Feb., 1975. With the compensation received the assessee purchased two other pieces of agricultural lands and 9th Feb., 1977 and claimed that the sum of Rs. 78,929 incurred for the purchase of the fresh agricultural lands should be set off against the capital gains arisin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y an HUF prior to the partition, it cannot be considered or used either by the assessee or his parent as required by s.54B. Reliance was placed on the decision in Shri Gopal Rameshwardas(1). On the other hand, it was contended on behalf of the assessee that conditions under s. 54B having been fulfilled the assessee was entitled to the relief claimed. 4. On a careful consideration of the rival su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ition in May, 1974 and by his parent and himself before the partition. The contention of the Revenue is that the use of the land for agricultural purposes by the assessee and his father jointly prior to the partition should be ignored on the ground it was held by a Hindu undivided family which is a separate unit of assessment. This contention turns a blind eye to the facts of the case and takes re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t juristic entity having a superior right defeating his own. In the circumstances, on the admitted fact that the assessee and his parent were actually cultivating the lands for a period of two years prior to the transfer, we are satisfied that the relief under s. 54B was correctly granted by the AAC. We have, therefore, no hesitation in confirming his order. 5. In the result, the appeal is dismi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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