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TMI Blog2017 (5) TMI 1778X X X X Extracts X X X X X X X X Extracts X X X X ..... or the year under consideration on 21.9.2011. The assessee was subjected to search on 10.2.2012. Consequent thereto, the assessee filed return of income in response to the notice issued u/s. 153 of the Act on 14.12.2012. In both the returns the assessee had declared long term capital gain on sale of commercial property. The assessee did not claim any deduction u/s. 54F of the Act. Subsequently, the assessee filed a revised return u/s. 153A of the Act on 31.1.2014, wherein the assessee claimed deduction u/s. 54F of the Act in respect of a new flat purchased by her. 3. The Assessing Officer rejected the claim of the assessee on the following grounds :- (a) The assessee already owns a property at Avasekar Heights and the same has been let ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l before us. 6. We have heard the parties and perused the record. Presumption drawn by the Assessing Officer that the assessee also owns a property where she resides is according to learned AR not based on facts. He submitted that the property where she resides does not belong to the assessee. He further submitted that the decision rendered by Hon'ble Supreme Court in the case of Sun Engineering Works Pvt. Ltd. (supra) is related the proceedings u/s. 147 of the Act, whereas the current proceedings is related u/s. 153A of the Act. He further submitted that the case laws relied upon by Ld CIT(A) (supra) are related to unabated assessment years, whereas the year under consideration is abated assessment. In the case of abated assessments, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the apex Court observed that the order passed under ss. 147/148 and the AO is primarily restricted to such income which has escaped assessment and does not permit reconsideration of Issue which are concluded in the earlier assessment years in favour of the Revenue. 11. In the present facts for the subject assessment years It is an undisputed position that the pending assessment before the AO consequent to return filed under s. 139(1) of the Act for the subject assessment years had abated. This was on account of the search and as provided in second proviso to s. 153A(1) of the Act. The consequence of notice under s. 153A(1) of the Act is that assessee is required to furnish fresh return of income for each of the six assessment years ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tortcj.1 Thermal Power Co. Ltd. vs. CIT (1999) 157 CTR (SC) 249: (1998) 229 ITR 383 (SC) wherein while dealing with the powers of the AO it had held that a claim not made in the return of income, the Court may lead to non-entertainment of claim by the AO. However, this restriction in the power of the AO will not affect the power of the Tribunal to entertain a fresh claim. 13. In view of the fact that the issue stands concluded by the decision of Ii this Court in CIT vs. Pruthvi Brokers & Shareholders 'P) Ltd. (supra) the question as proposed does not give rise to any substantial question of law. Thus not entertained. 8. Thus I notice that the claim of the assessee for deduction u/s 54F of the Act can be entertained in the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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