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2019 (9) TMI 997 - AT - Income TaxDisallowance of claim u/s 54 - non-submission of registered purchase deed for the reasons - CIT(A) confirmed the view of the AO by observing that the assessee could not furnish the break-up of each unit and there was no possession ensured within the prescribed limit - HELD THAT:- There was a letter dated 01.11.2017 issued by builder/developer to the assessee stating that the residential flats are being handed over for internal decoration, colouring etc. to the respective flat owners sometime in May, 2017 onwards. The assessee must have got title deed registered in his favour by now, besides other evidences i.e. mutation in municipal records, property assessment, water assessment and electricity assessment etc. and we find no such documents before us showing his title on the said flat even till the year 2019. Therefore we agree with the objections raised by the AO in respect of non-submission of the title deed, even before all the authorities below including this Tribunal. In order to claim allowance u/s 54 of the Act, the proof of payment of consideration is complete when it is coupled with the above mentioned evidences to prove the title on property and consequently possession thereon. We deem it proper to remand the matter to the file of AO with a liberty to the assessee to file such documents showing transfer of right over such flat in respect of his claim u/s 54 by holding the assessee is entitled to get deduction u/s 54 subject to showing proof of sale deed etc. in favour of him relating to the said flat as reflected in the MOU dated 16.07.2012. AO shall examine the same and pass order in accordance with law. Thus Ground No.1 raised by the assessee is allowed for statistical purposes.
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