2020 (7) TMI 630

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....ondent(s): Mr.N. Quadir Hoseyn O R D E R (Delivered by Dr.Vineet Kothari, J.) The Court was held by Video Conference, as per the Resolution of the Full Court dated 3 July 2020, by Judges at their respective residences and the counsel, staff of the Court appearing from their respective residences.   2. Heard Mr.J.Narayanaswamy, learned Senior Standing counsel appearing for the appellant De....

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....he learned Tribunal, with regard to exemption under Section 54 F(1) of the Act, with respect to capital gains earned by the assessee during the previous year, has given the following finding of facts in paragraph 8 and the relevant portion of paragraph 8 is quoted hereunder; ' The assessee has complied the provisions considering the dates as under:- (i) Date of transfer of original asset : 1....

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....from the date of transfer of original asset which is not disputed in the assessment proceedings or in appellate proceedings. The provisions of Sec. 54F are beneficial provisions and are to be considered liberally in the aspect of limitation period. But the investment in residential property is must which the assessee has proved with evidence and complied before the lower authorities. The learned....

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....on because of exemption in the said Circular, the learned counsel for the Revenue press the appeal on merits. 6. However, after hearing both the learned counsel, we are satisfied that the finding of the facts arrived at by the learned Tribunal are perfectly in order and justified and correct on the basis of facts stated in the quoted paragraph 8 of the order. The assessee has clearly satisfied th....