TMI Blog2022 (12) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... ee sold immovable properties located at Mouje Korche by various sale deeds i.e. 22-02-2011, 17-03-2011 etc. as shown in para 8 of the assessment order. In pursuance of the decision of Hon ble High Court of Allahabad [ 2009 (7) TMI 118 - ALLAHABAD HIGH COURT] the assessee required to construct a building as per the date of sale of asset i.e. 17-03-2011 within three years. Admittedly, the AO dep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ETHRA RAVI, JM : This appeal by the assessee against the order dated 18-07-2019 passed by the Commissioner of Income Tax (Appeals)-2, Kolhapur [ CIT(A) ] for assessment year 2011-12. 2. The assessee raised ground Nos. 1 to 7 concerning the only issue is as to whether the CIT(A) is justified in confirming the order of AO in denying the deduction u/s. 54F of the Act. 3. After hearing both ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 23-12-2010 and show caused the assessee why claim u/s. 54F of the Act should not be denied. The ld. AR submits that the assessee demolished the existing house as purchased on 23-12- 2010 and due to various complaints by the neighbor the assessee could not complete the construction. I find that the said statement was made before the AO. In order to verify the said veracity of the said statement t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4F has to be charged after the expiry of three years from the date of sale of the asset. In the present case, admittedly, the assessee purchased a residential property on 23-12-2010 and the assessee sold immovable properties located at Mouje Korche by various sale deeds i.e. 22-02-2011, 17-03-2011 etc. as shown in para 8 of the assessment order. In pursuance of the decision of Hon ble High Court o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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