TaxTMI 
TaxTMI 
2015 (5) TMI 1098
X X X X Extracts X X X X
X X X X Extracts X X X X
....denial of exemption u/s 54F without properly appreciating/considering the facts, evidence and the relevant provisions of the Act. 2. He has erred in law and on facts in not properly appreciating the fact that no sufficient time was granted for reply to the show cause notice resulting into violation of principles of natural justice. 3. He has erred in law and on facts in not appreciating the facts that the field report of the inspector, photograph, panchnama, prominently highlighted and relied upon were not provided to the assessee for explanation/rebuttal rendering the disallowance as bad in law. 3. Ground Nos. 4 to 10 are only arguments in respect of above Ground Nos. 1, 2 and 3. 4. At the time of hearing before us, it is submitted b....
X X X X Extracts X X X X
X X X X Extracts X X X X
....at the Assessing Officer gave opportunity to the assessee in which it was informed by the Assessing Officer that by site verification on 24.01.2014 by the Inspector of Income-tax it was revealed that the plots were still open and no construction activities were carried out on the said plots. Thereafter, the assessee did furnish the reply on 31.01.2014 and the Assessing Officer, after considering the said reply, has completed the assessment. 6. In the rejoinder, it is submitted by the ld. Counsel that since the adequate time was not allowed by the Assessing Officer, the assessee was not able to give any factual details and only furnished the legal arguments in its reply dated 31.01.2014. He stated that ultimately the building has been const....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... was made by the assessee so as to be entitled to exemption u/s 54F. The assessment was completed on 31.01.2014 i.e., within two days from conducting the enquiries by the Inspector of Income-tax. When the inquiry was conducted almost in the last week of January 2014, naturally it cannot be possible to confront the outcome of the inquiry to the assessee and allow him sufficient time to furnish the reply in rebuttal. Therefore, in our opinion, it would meet the ends of justice if the orders of the authorities below are set aside and the matter is restored back to the file of the Assessing Officer. We order accordingly and direct the Assessing Officer to supply the copy of the Inspector Report, Panchnama and any other material if collected beh....