Assessee had sold his shares in ECC and TIL, capital gain invested in a residential property  and claimed exemption under section 54F of the Act.  The AO held that the assessee already owned two residential property, at Raipura and Vishubaug Farm and, thus, claim under section 54F was denied. Assessee claimed that said farm property was an agricultural land used for carrying out agricultural activities and even included a cow shed from which assessee generated income from sale of milk. Field Inspection Report and photographs of said property clearly showed that it was a 22 acres land wherein assessee had built residence/bungalow, manager’s office, worker’s residence/outhouse, storehouse/farm equipment, cow shed etc.  The assessee had failed to produce any property tax details and electricity connection to prove nature of property  and  had also not offered any agricultural income/loss in his return of income.  Denial of exemption is affirmed. (AY. 2017-18)