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2022 (1) TMI 234 - AT - Income TaxIncome from other sources - consideration received in excess of consideration recorded in Sale Deed - Admission of additional evidence - HELD THAT:- The dispute in respect of actual sale consideration has not been decided based on evidences filed by assessee. We note that the Ld. CIT(A) rejected additional evidences. It is noted that the Ld. CIT(A) held the sale proceeds received by assessee over and above the sum mentioned in the registered sale deed as Income from other sources. In our view, the Ld. CIT(A) should have admitted the additional evidences and considered the claim in the light of additional evidences filed by assessee. Exemption u/s. 54F with regard to the investment in the residential property - Assessee is entitled to make fresh claim for deduction or relief before the appellate authorities, during the course of the appellate proceedings, irrespective of whether claim not being made before Ld. AO by revising the return of income or during the course of the assessment proceedings. The decision by Hon'ble Supreme Court in Goetze (India) Ltd. [2006 (3) TMI 75 - SUPREME COURT does not prohibit such claim before the appellate authorities. We therefore remand both these issues to the Ld. AO to consider it afresh. The Ld. AO shall first decide the actual amount of sale consideration received by assessee based on the agreement entered into by the parties towards sale of property, followed by the claim under section 54F by assessee based on the principles laid down by Hon'ble Supreme Court in case of Comm. of Customs vs. M/s. Dilip Kumar & Co. [2018 (7) TMI 1826 - SUPREME COURT] - Appeal filed by assessee stands allowed for statistical purposes
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