As per ITAT Order,No Deduction will be allowable if Sale was made in Cash under Unregistered Deed

The Jaipur bench of the Income Tax Appellate Tribunal ( ITAT) has held that the deduction under section 54B and 54F of the Income Tax Act is allowable when the sale in question is made under an unregistered deed where the payment was made in cash.


The alleged agreement to sale is unregistered and the payment is also claimed to have been made in cash.


The assessee has not produced any other document to show that the assessee has acquired the ownership title in land in question.

The Tribunal found that if agricultural land is purchased by the assessee from the sale proceeds of the existing land,

then even if the said land is purchased in the name of the wife, the claim of deduction under section 54B is allowable.

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