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TMI Blog2013 (12) TMI 768X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority to deny the exemption claim of the assessee made under Section 54F in the present case, beyond the jurisdiction of Section 143(1)(a) We cannot just ignore the anxiety of the Assessing Officer in the matter of exemption under Section 54F. But, the only thing is that such an enquiry is not possible on the petition filed by the assessee under Section 154. - Decided in favour of assessee. - ITA No. 1622 (Mds)/2013 - - - Dated:- 22-10-2013 - Dr. O. K. Narayanan And Shri V. Durga Rao,JJ. For the Appellant : Shri R. Vijayaraghavan, Advocate For the Respondent : Shri Guru Bhashyam, IRS, JCIT ORDER Per Dr. O. K. Narayanan, Vice-President This appeal is filed by the assessee. The relevant assessment year is 2009-10. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and therefore, the addition was made while processing of return of income in accordance with law. The petition under Section 154 was dismissed. 5. In first appeal, the Commissioner of Income Tax (Appeals) held that the capital gain arose in the hands of the assessee is taxable in India and therefore, the computation made by the Assessing Officer was correct and no rectification was called for in the intimation issued under Section 143(1)(a). He also found that the order does not enhance the assessment or reduce the refund or otherwise increase the liability of assessee and therefore, Section 154(3) is also not applicable. He accordingly confirmed the order of the Assessing Officer. 6. It is against the above that the assessee has come ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l of exemption u/s. 54F in respect of investment in a house property in USA is a debatable one and cannot be subject matter of rectification u/s. 154 in proceedings u/s. 143(1) of the Act. (8) The Commissioner of Income Tax (Appeals) ought to have appreciated that assessee has fulfilled all the conditions laid out in sec.54F of the Act and hence exemption has to be allowed. (9) The Commissioner of Income Tax (Appeals) erred in not following the Tribunal decisions wherein it was held that assessee cannot be denied exemption u/s 54F merely on the ground that the purchase/construction of the residential house must be in India and not outside India if all other conditions laid down in the section are satisfied. (i) Mrs. Prema P. Shah Sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r has overstepped his authority to deny the exemption claim of the assessee made under Section 54F in the present case, beyond the jurisdiction of Section 143(1)(a). Accordingly, the order of Commissioner of Income Tax (Appeals) is also not sustainable in law. 9. Therefore, we set aside the orders of lower authorities and direct the Assessing Officer to pass a fresh order on the petition filed by the assessee under Section 154 on the subject matter raised in the said petition. If any refund is due, based on the said order, the same shall be paid over to the assessee. 10. The question whether the exemption claimed by the assessee under Section 54F is a serious question to be considered by the Assessing Officer. Assessee has sold the prop ..... X X X X Extracts X X X X X X X X Extracts X X X X
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