SRI RAMAKRISHNAN NAIR SUKESH KUMAR,RANCHI vs. ACIT, CIRCLE-3, RANCHI

In the result, the appeal of the assessee stands allowed

Bench: Shri Sanjay Garg & Shri Manish Boradi.T.A. No.194/Ran/2019 Assessment Year: 2015-16 Sri Ramakrishnan Nair Sukesh Kumar.…...…..................……...…..….. Appellant Quarter No.R I/1, Birla Institute Of Technology, Mesra, Ranchi-835215. [Pan: Abtpk1985G] Vs. Acit, Circle-3, Ranchi…..……………………….……….…………….. Respondent Appearances By: Shri Devesh Poddar, Advocate, Appeared On Behalf Of The Appellant. Shri Pranob Ku. Koley , Sr. Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : August 23, 2022 Date Of Pronouncing The Order : September 07, 2022 Order Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 04.02.2019 Of The Commissioner Of Income Tax (Appeals), Ranchi [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

248/- out of the total deduction claimed u/s 54F for Rs.73,21,565/-. Ld. CIT(A) confirming the said disallowance observe that the amount invested in 2 years from the sale can only be allowed. On the other hand, we claimed that deduction for amount shall be upto investment made in 3 years as a flat in under construction business