Issue of exemption under section 54B to be re-adjudicated

IT: Where whether land was an agricultural land and whether it was used for agricultural purpose in immediately two preceding years prior to sale of land were not considered by lower authority, issue of exemption under section 54B to be re-adjudicated
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[2014] 49 taxmann.com 435 (Cochin - Trib.)
IN THE ITAT COCHIN BENCH
T.S. Vasudevan Elayath
v.
Deputy Commissioner of Income-tax*
N.R.S. GANESAN, JUDICIAL MEMBER
AND B.R. BASKARAN, ACCOUNTANT MEMBER
IT APPEAL NOS. 1 & 41 (COCH.) OF 2014
CROSS OBJECTION NO. 20 (COCH.) OF 2014
APRIL  1, 2014
Section 54B of the Income-tax Act, 1961 - Capital gains - Transfer of land used for agricultural purposes (Conditions precedent) - Commissioner (Appeals) allowed assessee's claim for exemption under section 54B - Whether since lower authorities had not recorded any finding as to whether land was an agricultural land and whether it was used for agricultural purpose in immediately two preceding years from sale of land, impugned order was to be set aside and matter was to be remanded back to file of Assessing Officer to decide issue afresh - Held, yes [Para 4][Matter remanded]
S. Rajeev for the Appellant. K.K. John for the Respondent.