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2015 (1) TMI 312 - AT - Income TaxCapital Gains - Joint development agreement (JDA) with brothers - AO has observed that the assessee has not shown any long term capital gains and short term capital gains in the return of income - Deduction u/s. 54F - Held that:- CIT(A) has got the cases mixed up between the brother and the assessee herein and has wrongly concluded that the AR has not pressed these grounds of appeal. In these circumstances, we set aside the order of the CIT(A) and remit the issue to the file of the CIT(A). The assessee is free to raise any issue including the application of judgement of jurisdictional High Court in the case of Potla Nageswara Rao (2014 (8) TMI 636 - ANDHRA PRADESH HIGH COURT). The CIT(A) has to consider additional grounds and deduction u/s. 54F of the Act, following the decision of the Tribunal in the case of Sri Nand Kishore Yadav (2015 (1) TMI 288 - ITAT HYDERABAD), who is the brother and partner of the assessee. - Decided in favour of assessee.
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