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Income Tax Appellate Tribunal, ‘SMC‘ BENCH
O R D E R PER DR. B.R.R. KUMAR : The present appeal has been filed by the assessee against the order of ld. CIT(A)-13, Ahmedabad dated 28.06.2019.
Heard the arguments of both the parties and perused the material available on record.
The assessee has filed additional ground of appeal relating to claiming of deduction u/s. 54F, which was neither claimed to return of income nor brought before the lower authorities. It was prayed that the matter of earning of capital gains and investment in the new flat have to be examined to determine the exact capital gains taxable. Both the parties fairly accepted the contention that matter needs to be Ravi Agrawal examined at the level of the Assessing Officer after taking into consideration the sale and purchase of the capital assets, in this case the flats. Hence in the interest of justice the matter is being reminded to the A.O. for examination and determination of capital gains afresh by conducting the assessment proceedings de novo.
In the result, the appeal of the assessee is allowed for statistical purposes. Order pronounced in the open court on 07/11/2023. Sd/- Sd/- (YOGESH KUMAR US) (DR.B.R.R. KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER Delhi; Dated 07/11/2023 NV Copy of the Order forwarded to :
1. 1. The Appellant 2. The Respondent.