2014 (9) TMI 824

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..... f remand for examination of the deduction under Section 54F of the Income Tax Act, 1961 (Act, for short). The contention, though appealing, has no merit. If the contention of the Revenue is to be accepted, then the Commissioner of Income Tax (Appeals) should have quashed and set aside the order under Section 154 as the Assessing Officer had not duly applied his mind and had erred while passing th .....

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..... fact that the assessee had reduced his claim for deduction under Section 54F from Rs. 1,02,39,517/- to Rs. 76,83,538/-. The Commissioner of Income Tax (Appeals) has rightly observed, and it is not controverted, that the issue with regard to claim for deduction under Section 54F was not examined in the order under Section 154 of the Act. Order under Section 154 of the Act dated 1st October, 2010 o .....

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