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u/s 54 B of I. T. Act 1961

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24 October 2008 sir,
'A' sold his agricultural lands situated within the limits of Nagar Palika in A.Y. 2004-05.
'A' invested the amount, more than the sale consideration, over purchase of another agricultural land within the 2 years of sale of the above land in joint names of himself and his two major sons.Assessing Officer quantified the deduction u/s 54 B to 1\3rd of the investment made.C I T (A)dissmissed the appeal and hold the order of the A/O.
Kindly enlighten with case laws.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
24 October 2008 Already answered for your earlier question.
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