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2015 (5) TMI 1232 - ITAT PUNEAssessment u/s 153A - deduction u/s.54F denied on account of purchase of a flat - Eligibility to make a new claim - case of the revenue that since the proceedings u/s.153A are akin to the provisions of section 147, i.e. reassessment proceedings, therefore, the assessee cannot make a new claim which was not there in the original return of income - HELD THAT:- The character of the income remains “long term capital gain” and the assessee can make a new claim in the pending assessment which has not abated. Since the assessee otherwise fulfils the conditions laid down in provisions of section 54F of the I.T. Act, therefore, we are of the considered opinion that the assessee is entitled to claim deduction u/s.54F to the extent of ₹ 31,20,000/-. In this view of the matter we set aside the order of the CIT(A) and allow the appeal filed by the assessee.
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