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TMI Blog2017 (11) TMI 1948X X X X Extracts X X X X X X X X Extracts X X X X ..... presented on behalf of the assessee. 3. It was submitted by the Ld. DR that in the course of the assessment the AO had denied the assessee the benefit of deduction u/s.54 in respect of construction of a residential house claimed by the assessee on the ground that the construction has not been completed till the date of assessment. It was a further submission that the AO had disallowed the claim of deduction u/s.80C. 4. It was a submission that in Ground Nos. 2 to 2.2, the Revenue has challenged the action of the Ld. CIT(A) in holding that the Cost Inflation Index is to be applied from 01.04.1981. It was a submission that the assessee had received a property by way of family settlement on 27.02.2009. The assessee had claimed his share of c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iced that the Ld. CIT(A) has followed the decision of the Hon'ble Bombay High Court in the case of Manjula J. Shah, we find no reason to interfere in the order of the Ld. CIT(A) on this issue. 7. In regard to Ground Nos. 3 to 3.3 of the Revenue appeal, the Revenue has challenged the action of the Ld. CIT(A) in directing the AO to allow the deduction u/s.54F of the Act. It was a submission that the assessee has not proved the construction of the residential property till the date of the completion of the Assessment Order being 31.03.2015. It was a submission that for being eligible for deduction u/s.54F it was compulsory that the construction should have been completed within three years from the date of transfer of the original asset. It w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as been handed over to the assessee at Page No. 16 of the Paper Book. He drew our attention to the plan in respect of the said construction. On a specific query, as to whether the assessee has an approved plan, sanctioned copy or copies of the tax receipts in respect of the new house or evidences in the form of an electricity connection, the Ld.AR submitted that none of them were immediately available. It was a submission that other than the said letter of the contractor, no other evidence was available with the assessee. 9. We have considered the rival submissions. A perusal of the capital gains account in the assessee's case with SBI shows that the first entry is of 27.07.2012 wherein there was a deposit of Rs. 25,000/- and then there ar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ound Nos. 4 & 4.1, it was submitted by the Ld. DR that the issue was against the action of the Ld. CIT (A) in granting the relief to the assessee u/s. 80E of the Act to the extent of Rs. 1,85,000/-. It was a submission that the Ld. CIT (A) has entertained the fresh evidence in the form of the letter issued from SBI regarding the deposit of sum of Rs. 1,85,000/- towards the educational loan account of Shri Guarav Syal and Shri Rajan Syal. It was a submission that the evidence was not produced before the AO. 11. In reply, the Ld.AR submitted that he had no objection, if the issue is restored to the file of the AO for re-adjudication. 12. We have considered the rival submissions. As the said evidence has not been produced before the AO for e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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