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2021 (4) TMI 809 - AT - Income TaxAdmission of additional ground raising a fresh claim - Benefit of section 54F denied - investment made in a new property - proceeds of the original asset was invested in house property in the hands of the son - assessee is unable to execute the sale deed in his favour because of his illness - AR contended that the sale agreement in which the payments have been indicated is a sufficient proof for the purchase of the property - HELD THAT:- The assessee has filed additional ground by raising a fresh claim. As contended that the proceeds of the original asset was invested in house property in the hands of the son and investment of sale consideration towards the new residential house property should be alternatively be considered in the hands of the son of the assessee. The assessee had relied on judicial pronouncements that deduction u/s 54F of the I.T.Act should be considered in the name of the son of the assessee by filing proof of investment made by the son of the assessee. The assessee in the additional ground has raised totally a fresh claim. The issue raised in the additional ground goes to the root of the issue and for substantial cause and justice, I admit the same. It is the claim of the assessee that the assessee has transferred the amount of ₹ 33,50,000 to his son and the details of investment made in the new property by the son is to the extent of ₹ 47,18,150. The assessee in support of the above, has also furnished additional evidence as mentioned above. Since I have admitted the additional ground, the additional evidence in support of the additional ground is also admitted. Since the additional ground and the additional evidence are taken on record, the matter needs to be considered de novo by the Assessing Officer. Accordingly, the issue raised in the additional ground is restored to the files of the A.O. A.O. shall consider the claim in the additional grounds. As regards the additional grounds, the assessee shall be entitled to file evidence in support of his case. The assessee is directed to co-operate with the Department and shall not seek unnecessary adjournment. A.O. shall dispose of the matter after affording a reasonable opportunity of hearing to the assessee. Appeal filed by the assessee is partly allowed for statistical purposes.
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