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2022 (1) TMI 982 - AT - Income TaxDeduction u/s 54F - investment in purchase of flat made by assessee on sale of the 12 residential plots - Denial of deduction as assessee did not comply with the requirement of provisions to be eligible to claim deduction u/s 54F - As submitted that the purchase of new site took place after one year after the date of transfer of original asset and no construction commenced till the date - HELD THAT:- CIT(A) has not verified the submissions made by assessee in respect of purchase of site. Merely on surmises, the deduction is denied. In our opinion it is a fit case to be remanded to Ld.CIT(A) to carry out necessary verification. Assessee is directed to file all relevant documents in respect of purchase of site in support of its claim. CIT(A) is directed to verify all the relevant documents and to consider the claim in accordance with law - Ground raised by assessee stands allowed for statistical purposes.
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