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2024 (5) TMI 394 - ITAT MUMBAILTCG - deduction u/s 54 - entire amount of long-term capital gains earned from the sale of original assets was not invested - CIT(A) granted partial relief to the assessee by observing that the assessee has made only partial investment in the new house property and therefore is entitled to relief u/s 54 of the Act only limited to the payment made for the new flat as per the purchase deed - HELD THAT:- There is no material available on record to show that the assessee was put to notice or was granted the opportunity of hearing by the learned CIT(A) before arriving at the aforesaid conclusion. Accordingly, we deem it appropriate to restore this issue to the file of the jurisdictional AO for de novo adjudication after consideration of the details as may be furnished by the assessee. The assessee is directed to file her submission along with all the necessary supporting documents in respect of her claim u/s 54 of the Act before the AO. Accordingly, the impugned order passed by the learned CIT(A) is set aside and the grounds raised by the assessee are allowed for statistical purposes.
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