9911796707
TMI Blog2017 (7) TMI 730X X X X Extracts X X X X X X X X Extracts X X X X ..... in law in not admitting the additional evidences filed by the assessee during the appellate proceedings. (ii) Without prejudice to the above, the learned CIT(A) has erred both on facts and in law in adjudicating the issue on the basis of the architect's certificate, being the additional evidence filed by the assessee, despite the fact that he himself has denied to admit the said additional evidence. 3. On the facts and circumstances of the case, learned CIT(A) has erred both on facts and in law in confirming the disallowance of exemption under Section 54 amounting to Rs.9,51,174/- claimed by the assessee. (i) On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in holding that the revised ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... capital gain of Rs. 9,51,174/- by selling property no. B-38A Majlis Park, Delhi and further claimed deduction of Rs. 9,51,174/- u/s 54 of the Act. The AO asked the assessee to furnish the substantial evidence as regards to the claim of the deduction under section 54 of the Act. The assessee submitted that he purchased residential property bearing no. 2 Lakkad Mandi, Shri Ganga Nagar, Rajasthan for a sum of Rs. 30,00,000/-. The assessee also furnished copy of purchase deed relating to the purchase of above mentioned property. The AO, however, did not allow the claim of the assessee by observing that the assessee was not entitled for claim of deduction under section 54 of the Act in view of the following reasons:- 1. The assessee claimed d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ction of a residential house and deduction u/s 54 with substantial evidence. 3. The assessee owns more than one residential house other than the new asset. As per the statement of affairs filed by the assessee as on 31.03.2011 the assessee is having following residential properties: (i) 550 Sq yard, Siraspur Delhi (ii) A-14 & A-15, Giriraj Nikunj, Vrindhawan (iii) House No-3/51, West Punjabi Bagh (iv) House no-333, Baddi" The AO, accordingly disallowed the claim of the assessee and made the additions Rs. 9,51,174/- to the income of the assessee. 3. Being aggrieved, the assessee carried the matter to the learned CIT(A) and submitted that the issue of owing more than one residential house was relevant to exemption/reduction u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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