Assessee sold an agricultural land and claimed exemption under section 54B on the ground that he purchased a land. AO denied the exemption as he noted that said land was purchased by the assessee in his wife’s name.

In view of decision of Tribunal in case of Ashok Kumar S/o Tej Pal Singh v. ITO, [ITA No. 7460/Del/2018, dt. 28-12-2022], deduction under section 54B/54F is available in cases, where investments are made in property purchased in name of wife. Accordingly, AO was directed to allow deduction under section 54B to assessee. [ITA No.2265/Del/2023, Dt. 08/11/2023] [AY 2011-12]