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2019 (3) TMI 577 - HC - Income TaxClaim of deduction u/s 54F - evidence of construction of a new house property - substantial question of law - Power of High Court to sit in appeal over the factual findings -HELD THAT:- The assessee had purchased 1 acre and 25 cents of nanja land. On 22.07.2011, she deposited ₹ 20,20,000/- in a capital gain scheme account, the total investment as on 22.07.2011 was ₹ 2.6 crores. Planning permission had been obtained on 04.07.2012 before the due date for filing return. The Tribunal, considering the report of the inspection, found that the assessee was entitled to deduction under Section 54F of the IT Act. The learned Tribunal, in effect and substance, found that the extent of land appurtenant to a building in a case involving sale of land and buildings was not a determining factor. Right of appeal is not automatic. Right of appeal is conferred by statute. When statute confers a limited right of appeal only in a case which involves substantial questions of law, it is not open to this Court to sit in appeal over the factual findings arrived at by the Appellate Tribunal. In this case, the learned Tribunal as also the Appellate Commissioner have concurred in their factual finding with which interference is not warranted under Section 260A of the Income Tax Act, 1961. The judgment relied upon by the learned counsel for the Revenue of the High Court of Punjab and Haryana in Jagwinder Singh vs. Commissioner of Income-tax, Appeals-II, Ludhiana [2014 (4) TMI 1177 - PUNJAB AND HARYANA HIGH COURT is distinguishable on facts. In the aforesaid case, there was no evidence of construction of a new house property. Appeal dismissed.
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