2022 (2) TMI 73

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....dv. ORDER PER KUL BHARAT, JM : This appeal filed by the Revenue for the assessment year 2012-13 is directed against the order of Ld. CIT(A)-27, New Delhi dated 06.01.2017. The Revenue has raised following grounds of appeal:- 1. " That the Ld. CIT (A) erred in law and on facts in deleting the addition of Rs. 2,40,39,613/- as capital gain on account of non explanation of the posses....

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...., the assessee had filed its return of income through e-mode, declaring an income of Rs. 2,43,400/- on 28.03.2013. The same was processed u/s 143(1) of the Income Tax Act, 1961 ("the Act"). Subsequently, the case was selected for scrutiny under CASS. The statutory notice u/s 143(2) of the Act was issued and served upon the assessee and in response thereto, the Ld.AR of the assessee attended the as....

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....Assessing Officer asked the assessee to explain as to how this deduction is allowable. The Assessing Officer was of the view that the assessee did not fulfill the condition as laid down for allowance of exemption under section 54F of the Act. As per the AO, the assessee had received full consideration from NDTV ltd. on 21.10.2011 and till date the assessee had not constructed or taken possession o....