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TMI Blog2018 (8) TMI 1359X X X X Extracts X X X X X X X X Extracts X X X X ..... HRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI JASON P. BOAZ, ACCOUNTANT MEMBER Revenue by : Ms. Nandini Das, JCIT Assessee by : Shri. Prem Raj Rathod, CA ORDER Per Sunil Kumar Yadav, Judicial Member This appeal is preferred by the Revenue against the order of the CIT(A), inter alia, on following grounds: 1. The learned Commissioner of Income Tax( Appeals)-12, Bengaluru ought to have considered the fact that in view of the statutory provisions of section 54, the residential house must be in India. 2. The learned Commissioner of Income Tax( Appeals)-12, Bengaluru failed to appreciate the fact that in view of settled ruling of interpretation of the tax statute, the residential house purchased/constructed must ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... covered by the order of the Tribunal in the case of ACIT Vs. Iqbal Jafar (2014) 51 taxmann.com 189 (Lucknow - Trib.) and Vinay Mishra Vs. ACIT (2013) 30 taxmann.com 341 (Bangalore Trib.) in favour of the assessee. The learned DR placed a reliance upon the orders of the CIT(A). 3. Having carefully examined the orders of authorities below in the light of rival submissions, we find that the assessment year in this appeal is 2014-15 and the provision in section 54F comes w.e.f. 01.04.2015 according to which it was clarified that the residential house is to be acquired only in India meaning thereby before this amendment it was not clear as to whether the benefit of section 54F can be given to residential house acquired in India or abroad. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orting into the statute words which are not there. Such importation would be, not to construe, but to amend the statute. Even if there be a casus omissus, the defect can be remedied only by Legislation and not by judicial interpretation. 12. Further, in the case of Sodra Devi (supra), it was held by the Hon'ble Apex court that unless there is an ambiguity, it would not be open to the Court to depart from the normal rule of construction which is that the intention of the legislature should be primarily to gather from the words which are used. It is only when the words used are ambiguous that they would stand to be examined and considered on surrounding circumstances and constitutionally proposed practices. 13. We have also ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the sale proceeds of capital asset shall be invested in residential house or outside India. We, accordingly, following the judgment of the Hon'ble Apex Court in the case v. Vegetable Products Ltd [1973j 88 ITR 192, hold that the view favourable to the assessee taken ous Benches of the Tribunal should be followed and accordingly following the same, we hold that the assessee is entitled for exemption under section 54F of the Act. We, therefore, do not find any infirmity in the order of the Id. CIT(A), who has rightly adjudicated the issue in the light of the ratio laid down by the Tribunal in a number of cases. Accordingly, the order of the ld. CIT(A) is confirmed and the appeal of the Revenue is dismissed. 4. Since the Tribunal has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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