is exemption under Sec 54B is available if new agriculture land is purchased before the sale of urban agriculture land.
is there any case law regarding the same
2 Replies
Kapadia Pravin
(17259 Points)
Replied 01 March 2021
New one is to be purchased within 2 years from sale of old land. Not before sale of old one.
ROHIT KALE
(38 Points)
Replied 01 March 2021
New asset is purchased from advance received only sale deed of old asset is made after one month from purchase of new assets
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