https://www.taxtmi.com/caselaws?id=374735 The appeal filed by the assessee was partly allowed for statistical purposes. The Tribunal directed the Assessing Officer to reconsider the denial of exemption under sections 54 and 54F of the Income Tax Act, emphasizing the appellant's right to be heard. The issue of taxing notional rental income on properties under construction was remitted to the AO for fresh consideration, highlighting the need for a thorough review in light of additional evidence. The Tribunal stressed the importance of granting the appellant a fair opportunity to present their case and instructed the AO to reevaluate the matters based on the new evidence. en-us Mon, 04 Feb 2019 00:00:00 +0530 Fri, 08 Feb 2019 06:31:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374735 The appeal filed by the assessee was partly allowed for statistical purposes. The Tribunal directed the Assessing Officer to reconsider the denial of exemption under sections 54 and 54F of the Income Tax Act, emphasizing the appellant's right to be heard. The issue of taxing notional rental income on properties under construction was remitted to the AO for fresh consideration, highlighting the need for a thorough review in light of additional evidence. The Tribunal stressed the importance of granting the appellant a fair opportunity to present their case and instructed the AO to reevaluate the matters based on the new evidence. Case-Laws Income Tax Mon, 04 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374735