9911796707
TMI Blog2020 (4) TMI 725X X X X Extracts X X X X X X X X Extracts X X X X ..... tural land the appellant purchased a land worth his share, in the name of his wife. The issue is directly covered by the decision of this Court in Dinesh Verma's case [ 2015 (7) TMI 486 - PUNJAB HARYANA HIGH COURT] wherein declined the exemption Section 54B as it requires the assessee to purchase the property from out of the sale consideration of the capital asset. It does not entitle the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... J (Oral): CM No. 3147-CII of 2020 Application is allowed as prayed for. ITA No. 56 of 2020 This appeal has been filed under Section 260-A of the Income Tax Act, 1961 (for short 'the Act') against the order of the authorities below declining exemption under Section 54B of the Act, to the appellant. 2. The case of the appellant is that he and his three brothers had ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a land worth his share, in the name of his wife. The issue is directly covered by the decision of this Court in Dinesh Verma's case (supra). The reliance of Gurnam Singh's case (supra) will not enhance the case of the appellant as the property in that case was purchased in the joint name of the assessee and his only son, which is not the case in the present case. 7. Dismissed. 8 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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