AMRIK SOKHI,DELHI vs. ITO WARD-1(4), DELHI

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ITA 1509/DEL/2022Status: DisposedITAT Delhi12 October 2023AY 2015-16Bench: SHRI G.S PANNU, HON’BLE (President), SHRI CHANDRA MOHAN GARG (Judicial Member)3 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the matter to the Assessing Officer for verification of the factual contention that the two flats were purchased for use as a single residential unit. The Assessing Officer was directed to allow the benefit of exemption under Sections 54 and 54F if satisfied.

What were the facts?

The assessee claimed deductions under Sections 54 and 54F for the purchase of two flats, which the Assessing Officer and CIT(A) denied. The assessee contended that the flats were purchased for use as a single residential unit.

What were the issues?

Whether the assessee is entitled to deductions under Sections 54 and 54F when two flats are purchased for use as a single residential unit.

Which sections of the Income-tax Act were involved?

Section 54,Section 54F

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: A: NEW DELHI

Before: SHRI G.S PANNU, HON’BLE & SHRI CHANDRA MOHAN GARG

Hearing: 09.10.2023Pronounced: 12.10.2023

ORDER PER CHANDRA MOHAN GARG, J.M. This appeal has been filed against the order NFAC/CIT(A), New Delhi dated 27.05.2022 for A.Y. 2015-16.

2.

The ld. counsel submitted that having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in not allowing the benefit of deduction of Rs.1,42,419/- claimed by the assessee u/s 54F and that too by recording incorrect facts and findings and in violation of principles of natural justice and not appreciating/considering the submissions furnished by the assessee and more so when all the necessary conditions have been complied with by the assessee. He further submitted that having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in not allowing the benefit of deduction of Rs.67,71,823/- claimed by the assessee u/s 54 and that too by recording incorrect facts and findings and in violation of principles of natural justice and not appreciating/considering the submissions furnished by the

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