Matter remanded to CIT(A) as new evidences furnished for section 54f exemption

Malav Jashwantlal Shah Vs ITO (ITAT Ahmedabad)

ITAT Ahmedabad remanded the matter back to the file of CIT(A) in the case of denial of exemption under section 54F of the Income Tax Act since new evidences were furnished by the assessee before Tribunal which have not been evaluated by CIT(A).

Facts- The return of the assessee was taken for scrutiny assessment. The assessee claimed Long Term Capital Gain on sale of land of Rs. 1,41,43,038/- and claimed exemption u/s. 54F of the Act reinvestment in a residential house. AO found that the assessee has constructed

Please become a Premium member. If you are already a Premium member, login here to access the full content.