2014 (1) TMI 137

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....the Revenue challenging the order passed by the Tribunal directing grant of exemption to the assessee under Section 54F of the Income Tax Act (hereinafter, 'Act' for short) 1961, and for setting aside the order of the Appellate Authority as well as the Assessing Authority. 2. The assessee is a medical practitioner. He filed his returns of income for the assessment year 2008-09 on 04.09.2008 dec....

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.... together with 02 Square RCC roofed house, cement floor, jungle wood doors and windows. Form No.1A issued by the Department of Registration and Stamps, Government of Karnataka, dated 16.10.2007 also refers to the schedule 'C' measuring 200 sq.ft. RCC house, with cement floor and all civic amenities. A receipt dated 03.07.2007 showing the payment of property tax for the year 2006-07 and 2007-08 sho....

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....t cannot be construed as a fact, which shows that the case of the assessee is incorrect. Therefore, he proceeded to hold in the light of the undisputed documents, the finding recorded by both the Authorities is unsustainable and therefore, it set aside the said findings and granted relief to the assessee. 3. Learned counsel for the Appellant / Revenue assailing the impugned order contends, the ....

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....tial structure measuring about 200 sq.ft. was in existence. The photograph which was produced by the assessee even before the Authorities demonstrate the said fact. May be, that structure is not palatial, it does not have all civic amenities, that was the status of the vendor of the assessee. He sold the site to the assessee who is a doctor by profession. What the law contemplates is, after sellin....