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2021 (10) TMI 860 - AT - Income TaxExemption u/s 54 - denial of deduction as assessee has not furnished any documentary evidence to substantiate the claim that any amount was invested for purchase of new residential property - on one hand assessee submitted that she had purchased the land utilising the entire consideration received on the sale of property and on the other hand, she submitted that once the amount was realised from the firm, she will invest in purchase of new residential house immediately - HELD THAT:- Perusal of record reveals that initially counsel of the assessee appeared on a number of occasion and sought adjournment. After some time the counsel rescued herself from the case and informed the Bench that the assessee intends to engaged other counsel. However, none appeared on behalf of the assessee. This appeal is pending since 2016 and is in the category of more than five years old cases. In these circumstances, we have no option left except to decide the appeal after hearing the submission of ld.Sr.DR for the Revenue and the material available on record. We have also gone through the orders of Lower Authorities and various documents filed on record. We find that no documentary evidence to substantiate the claim that any amount was invested for purchase of new residential house except a certificate of builder wherein the assessee is a partner that assessee booked a residential flat. No number of residential unit, cost of new residential property or any other details of scheduled of payment is furnished. In our view, the assessee failed to substantiate the claim before the Lower Authorities as well as before the Tribunal. Therefore, we do not find any merit in the grounds of appeal raised by the assessee.
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