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2019 (2) TMI 362 - AT - Income TaxDenial of exemption u/s 54/54F - Held that:- CIT(A) erred in confirming the order of the A.O. in taxing long term capital gains. On this issue, we note that the A.O. while considering the alternate claim of the assessee u/s. 54F has quoted in the case of Goetze (India) Ltd. v. CIT [2006 (3) TMI 75 - SUPREME COURT] for the proposition that in absence of revised return, the assessee cannot make a fresh claim. This has been upheld by the CIT(A). Another reason given for the denial of exemption u/s. 54F is that the assessee owns more than one residential house other than the new asset as found in the balance sheet. Denial of exemption on the touch stone of the Hon’ble Apex Court decision in the case of Goetze (India) Ltd. (supra) is not sustainable, as the Hon’ble Apex Court in the said case has held that the said decision would not impinge upon the Income Tax Appellate Tribunal’s jurisdiction to admit additional/fresh claims/grounds. Accordingly, we direct that this claim of the assessee should be considered. We note that while canvassing this appeal, the assessee has filed the additional evidences to counter the A.O.’s finding that the assessee is owned more than one flat. These additional evidences were not submitted before the authorities below. As a matter of fact, it is the plea of the assessee that no opportunity in this regard was granted by the A.O. Upon careful consideration, in the interest of justice, we remit this ground as well as additional evidences to the file of the A.O. to consider the claim of the assessee u/s. 54F. Needless to add, the assessee should be granted adequate opportunity of being heard.
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