Assessee sold agricultural land during year and utilized total sale consideration for purchasing new agricultural land during year. Assessing Officer allowed the claim. There after passed the order disallowing the claim passing the order u/s 155. CIT (A) affirmed the order of the Assessing Officer. On appeal the Tribunal held that   since on going through Notification No. S O 9447 (File No. 164/3/97-ITA. I), dated 6-1-1994 and details of sale deeds as well as certificate issued by Gram Panchayat it was found that agricultural land sold during year did not fall within definition of capital asset as provided under section 2(14)(iii), capital gain arising from sale thereof was exempt from tax. Even if agricultural land was considered as capital asset, even then assessee was entitled for exemption under section 54B for total purchase price of new agricultural land or long-term capital gain arising from sale of agricultural land, whichever was lower. (AY. 2013-14)