Tribunal held that purchase of agricultural land prior to sale of agricultural land owned by the assessee exemption is not available . Stamp duty paid by assesseeis to be considered as part of cost of purchase of agricultural land. (AY.2014-15)
Mathur Lal v. ITO (2019) 174 ITD 44 (Jaipur)(Trib.)
S. 54B : Capital gains-Land used for agricultural purposes -Purchase of agricultural land prior to sale of agricultural land – Exemption is not available-Stamp duty paid is to be considered as part of cost of purchase of agricultural land. [S. 45]