N.K.Sud, J.

1. The revenue has filed this appeal against the order of the Income Tax Appellate Tribunal, Chandigarh Bench, Chandigarh (hereinafter referred to as the Tribunal) dated 7-9-2001 accepting the claim of the assessee under section 54B of the Income Tax Act, 1961 (hereinafter referred to as the Act).

2. The assessee, an individual, sold 15 kanals 18 marlas of land out of her share in 23 kanals 17 marlas land during the financial year 1990-91, relevant to the assessment year 1991-92. The sale was effected vide three registered sale deeds dated 16-6-1990, 23-6-1992 and 26-6-1990, for Rs. 1,80,000, Rs. 2,35,000 and Rs. 2,64,000, respectively. While filing her return of income, she claimed exemption from levy of capital gains under section 54B of the Act on the ground that the land sold by her was agricultural land and the sale proceeds were invested in the purchase of agricultural land within two years as under :

On 8-1-19917 K. 17 M. vide Registration Deed No. 1001 for Rs, 80,000 + Registration expenses; On 19-2-19911 K. 2 M. vide Registration Deed No. 1209 for Rs. 11,000 + Registration expenses; On 5-8-199120 K. 2 M. vide Registration Deed No. 4500 for Rs. 8,00,000