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2014 (8) TMI 754 - AT - Income TaxClaim of exemption u/s 54/54F – Income from salary and property – AO was of the view that assessee own more than two houses at the time of capital gains – Held that:- Assessee received a total of ₹ 75,00,000 - even though the cancellation deed was entered presumably for saving the stamp duty, the intention of the assessee seems to be selling the plot No.19 purchased three years back for a consideration of ₹ 75,00,000 as can be seen from the terms of ‘agreement of sale’ through which assessee acknowledges receipts of ₹ 11,00,000 - assessee has originally admitted the capital gain correctly treating the re-transfer/re-conveyance of the plot as a transfer thereon and claimed deduction under section 54F - CIT(A) order in treating the amount as breach of contract seems to be devoid of facts - What assessee actually intended from the citations of the documents on record is to resell the plot to the original vendor at a consideration of ₹ 75,00,000/- and assessee claimed indexation benefit on the cost of the purchase of plot in 2005 - Decided in favour of Revenue. Admission of additional grounds – Held that:- Admission of additional grounds by the CIT(A) involved examination of facts which are not on record - there is no dispute with reference to capital gains being offered by the assessee – relying upon CIT Vs. S.A. Builders Ltd. [2006 (12) TMI 76 - SUPREME COURT OF INDIA] - if the facts are not available on record, additional ground cannot be raised on any legal issue - the facts on the issue of capital gains are obviously not examined by the AO as the assessee himself offered the capital gains - CIT(A) entertained additional ground which involve examination of fresh facts which is not permitted under Law - thus, CIT(A) erred in admitting additional grounds of appeal and also not given the opportunity to the AO to examine under Rule 46A – Decided in favour of Revenue.
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