Sold agricultural land and bought new one in wife’s name: Know why ITAT denied capital gains exemption

To claim exemption from capital gains tax under Section 54B of the Income tax Act, 1961, the new agricultural land must be purchased in the name of the same Assessee who has sold the original land ...

Sold farm land for Rs 5 crore, buys new land in wife’s name, paid no capital gains tax, gets tax notice; why ITAT Delhi denied tax exemption

A man who sold agricultural land for Rs 5 crore and reinvested the gains into a new plot in his wife's name was denied capital gains tax exemption under Section 54B. The Income Tax Appellate Tribunal ...