2019 (12) TMI 1309

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....ion whilst setting aside the assessment in question dated 25.12.16 as under: "5. As per details available on record, the assessee had sold a flat at Dhanbad on 18.12.2009 and land and building at Dahiya on 24 12.2009 earning long term capital gain (LTCG) of Rs. 5,72,502 and Rs. 23,11,098 respectively totalling to Rs. 28,63,600/-. Against such long term Capital gain earned by the assessee., he has claimed deduction u/s 54 & 54F, on account of purchase of right in a flat at Uniworld City Horizons by Bengal Unitech in New Town, Kolkata being built by Bengal Unitech on 10th June 2010 from Shri Ram Multicom Pvt Ltd by paying Rs. 40,00,000/-. There is no detail available on the record to show that as to when the flat was acquire....

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.... the Act and then pass a fresh assessment order in this regard by computing correct amount of taxable Long Term Capital Gain in the hand of the assessee. Other additions made by the AO in original assessment order shall remain intact. 6. In the result, the assessment order dated 30.12.2016 is set aside to the extent of examination of deduction u/s.54 and 54F and passing of a fresh assessment order as directed above." 3. We now advert to the basic relevant facts. There is hardly any dispute that we are in assessment year 2009-10. The department had carried out search in question dated 05.08.2014 in M/s Kushal Group, Kolkata. The same culminated in initiation of section 153A proceedings vide notice dated 20.03.2015. The assessee f....