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Sec 54

In 13th prob, they have nowhere mentioned that the assessee used the land for agricultural purpose can I write an assumption that he has used it and claim exemption u/s 54B or otherwise?

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Venkatesh Rathinam

Venkatesh Rathinam

CA Inter

13K+

20-Apr-20

68

Answers (3)

Its an agricultural land.


Suraj Lakhotia

Suraj Lakhotia

Admin

21-Apr-20

No sir the doubt is there are certain conditions to be satisfied wrt availing the exemption u/s 54B and nothing regarding the satisfaction of condition is given in the question so in such a case can i write an assumption that it was used for agricultural purpose by him during the 2yrs immediately preceeding the date of transfer and claim the said deuction?


Thread Starter

Venkatesh Rathinam

Venkatesh Rathinam

CA Inter

13K+

23-Apr-20

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