TMI Blog2019 (9) TMI 1181X X X X Extracts X X X X X X X X Extracts X X X X ..... xemption under Section 54 of the Act by placing reliance on the decision of Leena JugalKishor Shah Vs. Assistant Commissioner of Income- Tax, [ 2016 (12) TMI 351 - GUJARAT HIGH COURT] . The authority has noted that the Revenue has not assailed the said decision before the Supreme Court. Reference has also been made to the Circular No. 01/2015 containing explanatory notes to the provisions of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 019 - - - Dated:- 18-9-2019 - MR. VIPIN SANGHI AND MR. SANJEEV NARULA JJ. Petitioner Through: Mr. Ruchir Bhatia, Advocate. Respondent Through: Mr. Rajat Navet, Advocate. Mr. Sumit Lalchandani, Advocate for Mr. Salil Kapoor, Advocate. O R D E R 1. The challenge in the present writ petition preferred by the Revenue is to the order dated 22.12.2017 passed by the Authority for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of remittances made by the respondent from India and the sale consideration received by him in respect of the aforesaid Indian asset. The authority arrived at its conclusion with regard to the respondent being entitled to exemption under Section 54 of the Act by placing reliance on the decision of the Gujarat High Court in Leena JugalKishor Shah Vs. Assistant Commissioner of Income- Tax, (2017) 39 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and earned long term capital gain in the assessment year 2012-13 and invested the said gain in the same year for purchase of the property, as aforesaid, in London. 4. This Court has also had an occasion to deal with the said issue in ITA No.1169/2018 titled The Commissioner of Income-Tax International Taxation-2 Vs. Anurag Pandit, decided on 14.05.2019. 5. In the light of the aforesaid, we ..... X X X X Extracts X X X X X X X X Extracts X X X X
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