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2021 (2) TMI 610 - AT - Income TaxReopening of assessment u/s 147 - addition u/sec. 50C as well as rejection of the assessee's claim for deduction u/sec. 54F - HELD THAT:- AO taken the sale consideration at ₹ 60.00 lakhs as declared by the assessee. Similarly, the AO also allowed deduction u/sec. 54F of the Act. No other addition was made by the AO pursuant to the audit objection raised by the revenue audit party. AO has only brought the information to the notice of the ld. CIT(A) and the CIT(A) has considered the issues and held that there is no case for making the addition u/sec. 50C as well as rejection of the assessee's claim for deduction u/sec. 54F. Since AO has not made any addition, the contention raised by the Department with regard to the SRO value as well as granting of exemption u/sec. 54F was incorrect, since, both of them were not born out of impugned assessment order. Therefore, we agree with the contention of the ld. AR that the appeal is below the prescribed limit of tax under CBDT Circular No. 3/2018 , dated 11/07/2018, and not covered by exceptions, hence, not maintainable. Thus, the appeal filed by the Revenue is dismissed.
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