2019 (2) TMI 520

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....evenue is directed against order of the CIT(A)-3, Indore dated 19.5.2017 pertaining to the assessment year 2013-14. The revenue has raised following grounds of appeal:- 1. Whether on the facts and in the circumstances of the case, Ld. CIT(A)-III Indore has erred in law by deleting the addition of Rs. 1,31,00,044/- made by the A.O. on account of disallowance of exemption claimed u/s 54F. 2. Whe....

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.... property situated at 11/5, South Tukoganj, Indore admeasuring 5304 sq.ft. or 492.93 sq.mtrs., as shown in the sale deed to Shri Ramesh Modi & Smt. Rekha Modi. The property was claimed to be sold at Rs. 2,75,00,000/-. Out of total sale consideration of Rs. 2,75,00,000/-, Rs. 55,00,000/- was claimed to be belonged to Shri Anil Gawade (HUF). The assessee offered long term capital gain of Rs. 31,90....

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.... Further, the Ld. CIT(A) allowed exemption u/s 54F of the Act and claim of deduction under chapter VI-A. 4. Aggrieved by this, the revenue is in appeal. The only effective ground is against allowing the claim of deduction u/s 54F of the Act of Rs. 1,31,00,044/-. Ld. D.R. supported the order of the A.O. and submitted that Ld. CIT(A) is not justified in deleting the additions. 5. On the contrary, ....