Section 54F Claim Sent Back for Ownership and Investment Verification

Chandi Ram Sehajwani Vs ITO (ITAT Delhi) Section 54F Claim Remanded: ITAT Restores Matter to AO for Fresh Verification of Ownership and Investment The Delhi ITAT allowed the assessee’s appeal for statistical purposes and remanded the issue of exemption under Section 54F to the Assessing Officer for fresh verification. The assessee had claimed exemption on long-term capital gains arising from sale of a factory by investing ₹53.24 lakh in a residential flat at Noida. The claim was disallowed by the AO and confirmed by the CIT(A) mainly on the ground that the registered sale deed was not prod...