TaxTMI 
TaxTMI 
2021 (12) TMI 730
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....r. It was, therefore, submitted that there is a mistake apparent from record in the order of the Tribunal in as much as no opportunity was given to the respondents to rebut the findings that all the residential flats should be in the same block and entire precedents on the subject along with a note on the facts in the brief which was filed on 28/05/2021, were not considered by the Bench. 3. Referring to the above, the ld. AR of the assessee submitted that the order of the Tribunal dated 18//06/2021 may be recalled and adjudicated the issue in dispute by taking into consideration the note submitted on 28/05/2021. 4. We have considered the rival submissions and perused the material on record. In the order dated 18/06/2021, the Tribunal remitted the issue to the file of the AO by observing as under: "10. We have considered the rival submissions and perused the material on record as well as gone through the orders of revenue authorities. The AO restricted the exemption u/s 54F claimed by the assessee only to the extent of investment in one residential flat and denied on the other residential flats. Whereas the CIT(A) held that "it is also important to note that an amendm....
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.... Block Description Area in SFT Block Area in SFT Description B2 Full Block 39810 B1 39810 Full Block B3 Full Block 39810 B4 31935 Partial Block B4 Flat 1 x 5 Flrs 7875 B7 60945 Full Block B5 Full Block 30970 B8 15050 2x3BHK x 5floor B6 Full Block30970 B9 30197 Partial Block B8 Partial Block 45800 B10 12289 Partial Block B9 Partial Block 45298 B11/A 18943 EWS B10 Partial Block 15656 B11/A 30082 LIG B11/A EWS 15847 B11/B7670 EWS B11/B EWS 7100 Total area in SFT = 300199 246921 SFT Collective area = 300199 + 246921 = 547120 10.4 Allotment of the apartments units between First Party and Second Party in the ratio of 42 : 58 at page No. 50 of paper book, is enclosed to the order as Annexure - 1. 10.5 Block-wise details are given at page 82 of paper book, which is enclosed to the order as Annexure - 2. 10.6 Further, in the agreement at page 63 & 64 of the paper book are mentioned as under: "12. That the "PARTIES" hav....
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....construction areas and the layout may be altered by the SECOND PARTY to meet the marketability demands, at any stage or as per stipulated rules of concerned authorities. That the First Party shall retain an area of 2500 Sq. yds out of Ac 10 - 20 Guntas for their exclusive use and enjoyment of the First Party with absolute right of Ownership. The Second party is not haying any claim in and over the 2500 Sq. yds which is clearly mentioned in the plan in red colour annex to this Agreement and the said area Is abutting the 60 Feet of main Road which is facing towards East and South after deleting the area for the Transformer Yard on the Comer of South East. The Second party shall provide supply lines for Electrical, Drainage, Water (Gound and Municipal) etc and to develop them to the stage of Open Plots. However, any further construction and its implied expenses and deposits shall be borne by the First party itself. Moreover, Entry from these earmarked open plots into the developed layout shall not be permitted. It is mutually agreed that, a closed compound wall shall be constructed towards the West side of the said plots to restrict the access. Lf made mandatory by t....
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.... documents or any allotment letter for ascertaining the number of flats allotted to the assessee/assessees by the developers which is root for determining the deduction u/s 54F of the IT Act. The CIT(A)'s decision is right if the assessee has been allotted a house or more than a house in a Block/Tower as per the decision cited supra. The said blocks consist of more than a floor i.e. 5 floors. We, therefore, remit this file back to the AO for verification for the allotment of flats, which have been allotted to the assessee in a Block/Tower or in different Blocks/Towers. If the AO is found that the assessee has been allotted residential units in more than Blocks/Towers, the AO will recompute the capital gain afresh in the hands of the assessee as per law after providing reasonable opportunity of hearing to the assessee. The assessee is also directed to substantiate its claim u/s 54F by producing necessary documents and avoid unnecessary adjournments. Accordingly, the grounds raised by the revenue are partly allowed for statistical purposes." 4.1 The ld. AR submitted the note along with case law on 28/05/2021, which was not taken into consideration while passing the order dated 18/....