Section 54F exemption available towards purchase of undivided share of land

ACIT Vs Justice N. Kannadasan (ITAT Chennai) ITAT Chennai held that exemption under section 54F of the Income Tax Act duly available towards purchase of undivided share of land. Facts- The only issue in this appeal of Revenue is against the order of CIT(A) directing the AO to verify and allow the claim of deduction u/s.54F of the Act, whereas the CIT(A) has no power to set aside or examine the issue afresh as per the provisions of section 251(1)(a) of the Act. The CIT(A) after considering the facts in entirety allowed the claim of exemption u/s.54F of the Act by considering that the property w...