TMI Blog2020 (7) TMI 630X X X X Extracts X X X X X X X X Extracts X X X X ..... ng both the learned counsel, we are satisfied that the finding of the facts arrived at by the learned Tribunal are perfectly in order and justified and correct on the basis of facts stated in the quoted paragraph 8 of the order. The assessee has clearly satisfied the conditions for availing the benefit of exemption under section 54F of the Act, as it has purchased new property and has taken the possession within the stipulated period of three years, as aforesaid. Thus, we do not find any perversity in the said findings of facts given by the learned Tribunal. - T.C.A.No.456 of 2017 - - - Dated:- 22-7-2020 - HONOURABLE DR. JUSTICE VINEET KOTHARI HONOURABLE MR. JUSTICE KRISHNAN RAMASAMY For Appellant : Mr. J. Narayanasamy Sr. Stand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quoted hereunder; ' The assessee has complied the provisions considering the dates as under:- (i) Date of transfer of original asset : 14.2.2005 (ii) The date of filing of return : 17.3.2006 (iii) Due date of return for the Assessment year 2005-06 : 31.07.2005 (iv) Due date of filing belated return : 31.03.2007 (v) Possession of the property : 15.12.2007 On considering the provisions of law and facts of the case, the assessee has invested ₹ 68,00,000/-before due date of filing belated return i.e. 31.03.2007 and took the possession as per the findings of the Commissioner of Income Tax (Appeals) on 15.12.2007, being within three years from the date of transfer/sale of original asset being 14.02.2005. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e press the appeal on merits. 6. However, after hearing both the learned counsel, we are satisfied that the finding of the facts arrived at by the learned Tribunal are perfectly in order and justified and correct on the basis of facts stated in the quoted paragraph 8 of the order. The assessee has clearly satisfied the conditions for availing the benefit of exemption under section 54F of the Act, as it has purchased new property and has taken the possession within the stipulated period of three years, as aforesaid. Thus, we do not find any perversity in the said findings of facts given by the learned Tribunal. 7. Therefore, in our opinion, no substantial question of law arises in the present appeal filed by the Revenue and it is wit ..... X X X X Extracts X X X X X X X X Extracts X X X X
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