Tribunal held that the asseessee neither deposited in the capital gains account scheme nor was it used for purchase of land before the prescribed date nor a new land is purchased within a period of three years or the amount is deposited in a designated capital gains account scheme. Not entitled to exemption. (AY.2014-15)
Bhagwan Keshu Sakhare v. ITO (2020) 80 ITR 10 (SN) (Pune)(Trib.)
S. 54B : Capital gains-Land used for agricultural purposes-Neither Depositing amount in capital gains account nor using net consideration for purchase of land before prescribed date-Not entitled to exemption. [S. 45]