Section 54/54F exemption: ITAT directs AO to consider additional evidence

Hemalatha Mallapuram Vs ITO (ITAT Hyderabad) The issue under consideration is whether the tribunal can give fresh opportunity to the assessee to submit evidence which assessee might not have been able to provide at the time of hearing? In the present case, the assessee claimed deduction U/s. 54F of the Act. However, the Ld. AO disallowed the claim of deduction U/s. 54F of the Act by stating that she already owns one residential house other than the property sold. On appeal, the Ld. CIT (A) dismissed the appeal of the assessee and confirmed the order of the Ld.AO for denying the benefit of dedu...