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TMI Blog2023 (1) TMI 413X X X X Extracts X X X X X X X X Extracts X X X X ..... the A.O. to assess the long term capital gain as short capital gain without affording opportunity to the assessee which is in violation of natural justice. Therefore, we deem it fit to remand the matter to the file of Ld. CIT(A) for de-novo consideration after providing opportunity of being heard to the assessee. Appeal filed by the assessee is allowed for statistical purpose. - I.T.A. No. 1524/DEL/2018 - - - Dated:- 9-1-2023 - Dr. B. R. R. Kumar, Accountant Member And Sh. Yogesh Kumar U.S., Judicial Member For the Appellant : Shri Anil Gupta, CA For the Respondent : Shri Sanjay Nargas, Sr. DR ORDER PER YOGESH KUMAR U.S., JM This appeal is filed by the assessee against the order dated 03/11/2017 passed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Ld.CIT(A) in his Order u/s 250(6) dated 03-11-2017 (served on 5-1-2018 to the Assessee) for a non-issue in the impugned assessment order u/s 143(3) dated 11-03-2016 by the Id. DCIT, and, the kl. CIT-Appeals has directed the Id. DCIT to assess the long-term capital-gain as short-term capital-gain; and 4. The Ld.CIT(A) has not dealt with and has not passed a speaking order about the disallowance of Deduction u/s 54F towards long-term capital-gain by the Id. DCIT, which was the ground of appeal filed by the assessee/appellant before the Ld. CIT-Appeals; 3. Brief facts of the case are that, the assessee filed return declaring income of Rs. 84,60,680/-by claiming deduction of Rs. 2,64,44,285/- u/s 54F of the Act, the assessee shown ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 07/03/2014 beyond the due date. 8. In support of the claim for deduction u/s 54F of the Act, the assessee claimed that the entire sale proceeds of Rs. 3,55,35,000/- was invested in a residential property as the assessee has invested total amount of Rs. 4,40,62,189/- from April 2013 to February 2014. The Ld. A.O. was of the opinion that the assessee has not complied with the conditions for claiming exemption u/s 54F of the Act. The assessee was required to either to purchase or construct a residential house on or before 04/02/2016 as the date of sale of capital asset was 04/02/2013. 9. During the appellate proceedings the Ld.CIT (A) disallowed the deduction u/s 54/54F towards long term capital gain and further the Ld.CIT(A) termed the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee which is in violation of natural justice. Therefore, we deem it fit to remand the matter to the file of Ld. CIT(A) for de-novo consideration after providing opportunity of being heard to the assessee. 11. Thus, the Grounds of appeal No. 1 2 of the assessee are allowed for statistical purpose with a direction to Ld. CIT(A) to consider the submissions, documents and the judicial decisions put forth by the assessee and give specific findings on the same and pass appropriate order afresh in accordance with law. Accordingly, the Revised Ground No. 1 2 are allowed for statistical purpose. 12. In the result, appeal filed by the assessee is allowed for statistical purpose. Order pronounced in the Open Court on : 09 .01.2023. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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