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2020 (4) TMI 209 - ITAT BANGALORECapital gain on sale of a property - entitled to the benefit of deduction u/s.54F - Assessment of right income - whether the property is HUF property or that of the Assessee in his individual capacity should be assessed? - HELD THAT:- The said issue which is fundamental and vital has not been decided by the CIT(A) and since the view of the Revenue on this aspect in the form of order of AO/CIT(A) is not available for consideration by the Tribunal, we are of the view that the order of the CIT(A) should be set aside and the entire issues that arise for consideration before the Tribunal should be directed to be decided afresh by the AO. In this regard we find the issue whether the property belongs to HUF or individual was raised by the Assessee for the first time only before CIT(A). We therefore set aside the order of the CIT(A) and remand the issue of taxation of capital gain to the AO for consideration de novo after affording opportunity of being heard to the Assessee. We make it clear that all issues set out in the earlier part of this order is left open for adjudication de novo by the AO. Assessee's appeal is treated as allowed for statistical purpose.
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