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2016 (7) TMI 1000 - AT - Income TaxBenefit u/s.54F denied - AO denied the exemption u/s.54F on the reason that the return filed within the extended time limit available of filing of return of income u/s.139(4) cannot be considered - Held that:- we are inclined to remit the issue to the file of AO to examine the fulfillment of the conditions u/s.54F of the Act through intermediary period that is from the date of sale of capital asset to the date of actual investment in residential house. Accordingly, the issue is remitted to the file of AO for fresh consideration after giving adequate opportunity of hearing to the assessee. - Decided partly in favour of assessee for statistical purposes.
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