2022 (2) TMI 73

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....s 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 possession of the house without properly appreciating th....

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....e 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 assessment proceedings. The Assessing Officer observed that the assessee during th....

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....wable. 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 of the new property which is beyond 3 years. As the assessee had entered in Villa....