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:

disallowance of deduction claimed by the assessee u/s 54F of the Act. The assessee had sold an immovable property and earned capital gains of Rs.73,21,565/-. The assessee invested a sum of Rs.75 lakhs for purchasing a new under construction house. Out of aforesaid Rs.75 lakhs, the assessee paid/invested Rs.70,21,565/- within the specified two years from