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2018 (12) TMI 1259 - ITAT INDOREEligible for exemption u/s 54F - denial of claim as assessee was having more than one residential house - Held that:- As on the date of transfer of the original asset i.e. on 16.7.2012 and 12.9.2012, the assessee was only owner of half portion of the house, which was in joint ownership. Therefore, the A.O. was not correct to decline benefit of section 54F(1) of the Act on this basis. However, Ld. CIT(A declined benefit of section 54F(1) of the Act on the basis that subsequent to transfer of original assets, the assessee had purchased two new assets. It is clearly contrary to the proviso (a)(ii) to section 54(F)(1) of the Act. Since the Ld. CIT(A) rejected the claim on the ground other than the ground taken by the A.O., he ought to have given a specific notice to the assessee in this regard. Therefore, we set aside the orders of the authorities below and restore the issue to the file of the assessing officer to decide it afresh - Appeal filed by the assessee is allowed for statistical purposes.
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