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2021 (4) TMI 1079 - AT - Income TaxClaim of exemption u/s 54 denied - investment of the sale consideration in the new residential house was made in the name of the mother of the assessee - HELD THAT:- On perusal of the appellate order, we find that the ld. CIT(A) has not disputed the eligibility of exemption under section 54 of the Act, but, to allow the benefit to the assessee, the assessee was required to furnish the proof that the capital asset acquired was assessed in the hands of the assessee as per the decision relied on by the assessee. As prayed by the ld. Counsel for the assessee, we direct the ld. CIT(A) to give one more opportunity to the assessee to furnish the proof that the capital asset acquired was assessed in the hands of the assessee and in case the assessee fails to furnish the evidence, the appellate order already passed by the ld. CIT(A) stands sustained. Appeal filed by the assessee is allowed for statistical purposes.
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