2019 (2) TMI 1345

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..... BER This is an appeal filed by the Revenue against the order of the Commissioner of Income-tax (Appeals)-14, Chennai in ITA No.208/CIT(A)-14/2015-16 dated 23.05.2018 for the assessment year 2009-10. 2. Mr.S.Bharath represented on behalf of the Revenue and Mr.K.Ravi represented on behalf of the Assessee. 3. In this appeal, the Revenue has raised the following grounds:- "1. The order of the lea .....

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..... of deduction u/s.54F of the Act in respect of purchase of a new property along with his brother, Mr.Deniel Manohar Raj. The ld.D.R vehemently supported the order of ld. Assessing Officer. 5. In reply, ld.A.R submitted that the assessee had sold a residential property and reinvested in other investments viz. Capital Gains Investment Scheme, rural Electrification Bonds along with his brother and a .....

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..... onsidered the rival submissions. Admittedly, the assessee has invested his entire capital gains in the acquisition of a new residential property. Admittedly, the joint owner has also categorically admitted that he has not made any investments in the construction of the property in the name of the assessee. Just because, the assessee has made an investment and has held it jointly with the assessee' .....

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