2019 (3) TMI 85

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.... 2. The facts which led passing of impugned revision order are stated in brief. The assessee is an individual. She filed her return of income for the year under consideration declaring a total income of Rs. 4,02,020/-. The same was accepted by the AO in the order passed under section 143(3) of the Act. On examination of the record, the learned Principal CIT noticed that the assessee has sold a site located at Anjanapura and earned a capital gain thereon. The assessee has claimed deduction under section 54F of the Act in respect of capital gain referred above. The learned Pr.CIT noticed that the assessee has owned 2 residential properties and one commercial property on the date of sale of the plot (capital asset). The learned Principal CIT ....

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....operty. Accordingly it was pleaded that there was no violation of conditions prescribed under section 54F of the Act. 4. The learned Principal CIT noticed that the assessee has furnished the details of property held by her during the course of assessment proceedings, which also included the property located at Berlie Street, Bangalore. It was noticed that the assessee did not mention anywhere that she was not the owner of the residential property located at Berlie Street, Bangalore. The Ld Pr. CIT further noticed that the AO has not examined the claim for deduction u/s 54F of the Act as to whether the assessee has complied with the conditions prescribed under section 54F of the Act or not. Accordingly, the Ld Pr. CIT held that there was ....

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....rned Principal CIT was justified as there is no dispute with regard to the fact that the AO did not examine the eligibility of the assessee to claim deduction under section 54F of the Act as per the requirement of the provisions of section 54F of the Act. Though the learned AR submitted that the assessee has furnished the details of property held by her before the AO, it is not clear as to the context in which the reply was furnished by the assessee to the AO. The learned AR submitted that the assessee has filed the reply as per the oral request made by the AO. Hence, it is not clear from the record as to whether the AO has examined the claim for deduction under section 54F and allowed the same after due application of mind. 6. However, ....