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TMI Blog2022 (3) TMI 436X X X X Extracts X X X X X X X X Extracts X X X X ..... ost of improvement claimed by the assessee - No such adjudication is necessary as the investment made by the assessee in purchase of new residential house subsumes the entire sale consideration. Therefore, it becomes irrelevant whether assessee s claim of cost of improvement is allowable or not. Accordingly, grounds are dismissed. - ITA No.6163/Del/2018 - - - Dated:- 9-3-2022 - Shri Saktijit Dey, Judicial Member And Dr. B.R.R. Kumar, Accountant Member For the Appellant : Sh. H.K. Chaudhary, CIT(DR), Sh. Umesh Takyar, Sr.DR For the Respondent : Sh. Atul Puri, CA, Ms. Pooja Kakkar, Advocate ORDER PER SAKTIJIT DEY, JM: This is an appeal by the Revenue against order dated 05.07.2018 of learned Commissioner of Inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the assessee was unable to furnish complete bills/vouchers for cost of improvement. Therefore, he did not allow assessee s claim of cost of improvement amounting to ₹ 1,65,39,435/-. Additionally, he also rejected assessee s claim of deduction under section 54F of the Act by observing that the assessee had invested the capital gain in purchase of an agricultural land and not a residential house. Being aggrieved with the aforesaid decision of the Assessing Officer, assessee preferred an appeal before learned Commissioner (Appeals). 4. After considering assessee s submission in the context of facts and materials on record, learned Commissioner (Appeals) deleted the addition made by the Assessing Officer. 5. We have considere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee about the construction of house property on the said land. The inspector has reported that the said land is a farmhouse with construction of Basement, Ground Floor, First Floor and some construction on second floor. Inspector s report is enclosed herewith for kind reference. The assessee was also requested by this office to submit other documentary proofs to substantiate that the house was in existence at the time of purchase of land by the assessee. The assessee has submitted copy of khasra girdawari of 2004-05, 2008-09 and 2017-18 which confirms the fact that there was a house on the said land during that period. Further, the assessee has also submitted copy of assessment order u/s 123D of DMC Act for payment of property tax of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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