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Capital gain

This query is : Resolved 
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(Querist)
21 July 2014 DEAR ALL
I HAVE A QUERRY.

THERE IS A ASSESSEE WHO SOLD CERTAIN AGRICULTURAL LAND ON 10-09-2011 (DURING FINANCIAL YEAR 2011-12) FOR Rs. 25,00,00,000/- HOWEVER ASSESSEE DIDNOT FILED ANY RETURN.

ASSESSEE DIED ON 30/09/2011.

LEGAL HEIRS OF ASSESSEE PURCHASED AGRICULTURAL LAND BEFORE DUE DATE THAT WAS 31/08/2012.

ON FINANCIAL YEAR 2013-2014 LEGAL HEIRS OF ASSESSEE RECEIVED NOTICE U/s 148 TO FILE RETURN.

MY QUESTION IS THAT CAN WE CLAIM EXEMPTION U/S 54B IN RESPECT OF AGRICULTURAL LAND PURCHASED BY LEGAL HEIRS.

DEEPAK DABRAL ( ca.dd.2012@gmail.com)
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DEEPAK DABRAL

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DEEPAK DABRAL (Querist)
21 July 2014 I have refered a case law which states that exemption is available to assessee , when he initiated process of purchasing agricultural land but could not complete it due to sudden death and legal heirs completed same....

is there any other solution of same issue.
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