TMI Blog2014 (4) TMI 211X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) of the Act, as the due time would be under Section 139(1) only not under Section 139(4) of the Act - Tribunal has accorded one more opportunity to the appellant assessee to place on record relevant facts for consideration and if his case were to be different from the facts of the other case and makes a vast difference altogether - it is always open to him to place such facts before the AO for consideration – Decided against Assessee. - ITA.No. 10 of 2014 - - - Dated:- 20-2-2014 - DR. MANJULA CHELLUR AND MR. A.M.SHAFFIQUE, JJ. FOR THE APPELLANT : SRI. ANIL D. NAIR, SRI. R.SREEJITH, SMT. NIVEDITA A. KAMATH, SRI. SULEKHA BEEVI.CS, SRI. ROSIE ATHULYA JOSEPH FOR THE RESPONDENT : SRI JOSE JOSEPH, SC JUDGEMENT Per : Manj ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the time limit for filing of returns to claim benefit under Section 54F was the time limit prescribed under Section 139(4) of the Act? (iii) In the facts and circumstances of the case, ought not the Tribunal have held that the appellant was entitled to exemption under Section 54F since the appellant had invested the consideration in purchase of a new house before the time contemplated in Section 139 (4) i.e. 31.03.2009? 4. It is not in dispute that the Appellate Tribunal disposed of appeal of the assessee in ITA No.249 of 2012 pertaining to assessment year 2007-08 along with other appeals in ITA Nos. 154/12 and 166/2012. According to learned counsel appearing for appellant, there was no justification to treat the facts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt case, we have already stated above, it is possible that facts of the other appeal considered by the Appellate Tribunal along with appeal of the revenue may be different. The scheme for depositing capital gain is contemplated under Section 54F(4) and it depends upon when the property of the assessee is sold and when exactly the amounts were invested, whether it was invested in a residential house or otherwise. All these facts have to be considered with reference to provisions of Section 54F(4) along with Section 139 (1) of the Act, as the due time would be under Section 139(1) only not under Section 139(4) of the Act. 8. Tribunal, as a matter of fact, has accorded one more opportunity to the appellant assessee to place on record releva ..... X X X X Extracts X X X X X X X X Extracts X X X X
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