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2019 (3) TMI 85 - AT - Income TaxRevision u/s 263 - eligibility of the assessee to claim deduction under section 54F - HELD THAT:- It is not clear from the record as to whether the AO has examined the claim for deduction under section 54F and allowed the same after due application of mind. We notice that the Principal CIT has expressed certain views with regard to the contentions of the assessee and has also directed the AO to redo the assessment in the light of observations made by him. We are of the view that the AO should be given free hand in this matter. Accordingly, we modify the order passed by the Principal CIT and direct the AO to examine the issue of deduction u/s 54F of the Act in accordance with the law, without being influenced by the observations made by the learned Principal CIT in the impugned revision order - Appeal filed by the assessee is partly allowed.
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