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2017 (6) TMI 773 - AT - Income TaxLegality of notice issued under section 143(2) - non proper serving of notice - Held that:- The assessee has not furnished any second address for communication when the assessee was out of station; since the assessee is suppose to do so. When the Department made sincere steps to serve notice and when it was not possible, the notice was served through affixture, which is one of the modes of service of notice as defined in the provisions of CPC. Therefore, we are of the considered opinion that the notice has been served properly and legally. - Decided against assessee Denial of exemption under section 54 - sale proceeds of the old house (sold) are not invested in acquiring the new residential property within the stipulated time limits - Held that:- Admittedly, the assessee has entered into an agreement with the builder on 18.11.2004. The land (UDS) relating to the said flat (new property) was registered on 18.05.2005. Further, possession of the new property was taken by the assessee in October, 2006. All these dates are far before the stipulated period of one year prior to the date of sale of the old property on 26.09.2008. Otherwise also, anything that was purchased or constructed prior to 26.09.2007 was not eligible for deduction under section 54 of the Act. Thus, the assessee is not eligible for deduction under section 54 of the Act. The ld. CIT(A) has passed well reasoned detailed speaking order after analysing the documents and submissions made before him.- Decided against assessee
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