9911796707
TMI Blog2019 (2) TMI 717X X X X Extracts X X X X X X X X Extracts X X X X ..... act of possession of flat by assessee and sale consideration passed to the vendor and genuineness of the transaction having been accepted by AO and this fact not even been questioned by CIT(A), the claim ought not to have been disallowed by CIT(A), therefore, we allow the claim of the assessee for the purchase of flat in Delhi u/s. 54F of the Act. - Decided in favour of assessee partly. - I.T.A. No. 1451/Kol/2017 - - - Dated:- 12-2-2019 - Shri J. Sudhakar Reddy, AM And Shri A. T. Varkey, JM For the Appellant : S/Shri Soumitra Choudhury Joydeep Chakraborty, Advocates For the Respondent : Shri Robin Choudhury, Addl. CIT, Sr. DR ORDER PER SHRI A.T.VARKEY, JM This appeal of the Assessee arises out of the order of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Rural Electrification Bond and u/s. 54F for purchase of both immovable properties. However, the AO did not allow the deduction for the new residential house at Kolkata. Aggrieved, assessee preferred an appeal before the Ld. CIT(A), who vide para 4.9 of his order has given partial relief to assessee by observing as under: 4.9. Placing reliance on the decision of the Hon ble supreme Court, it is decided that the assessee in the instant case had made purchase of only one residential house property and accordingly he is entitled to the benefit of Sec.54F while computing its income in the head Capital Gain the ground of the appeal followed by the assessee to this extent is allowed. The assessee hereunder shall be entitled to take ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t for the property at Kolkata but denied the deduction for property purchased on the strength of General power of Attorney in Delhi. We do not countenance the action of the Ld. CIT(A) for the reason that the Hon ble Delhi High Court in the case of Space Developers Promoters Pvt. Ltd. Vs. Govt. of NCT reported in (2013) 33 taxman.com 99 (Del.) after referring to sec. 2(47) of the Act has held that conveyance of immovable property by a General Power of Attorney constituted transfer of capital asset and also the Hon ble High Court held that the circular directing Registrars not to register the conveyance of immovable property by General Power of Attorney was contrary to the observation of the Hon ble Apex Court and set aside the circular. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
