2022 (12) TMI 105

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.... the Revenue : Shri M.G. Jasnani ORDER PER S.S. VISWANETHRA RAVI, JM : This appeal by the assessee against the order dated 18-07-2019 passed by the Commissioner of Income Tax (Appeals)-2, Kolhapur ['CIT(A)'] for assessment year 2011-12. 2. The assessee raised ground Nos. 1 to 7 concerning the only issue is as to whether the CIT(A) is justified in confirming the order of AO in denying t....

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.... has purchased a residential property for Rs.21,71,000/- on 23-12-2010 and show caused the assessee why claim u/s. 54F of the Act should not be denied. The ld. AR submits that the assessee demolished the existing house as purchased on 23-12- 2010 and due to various complaints by the neighbor the assessee could not complete the construction. I find that the said statement was made before the AO. In....

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....amount of capital gains which has not been utilized u/s. 54F has to be charged after the expiry of three years from the date of sale of the asset. In the present case, admittedly, the assessee purchased a residential property on 23-12-2010 and the assessee sold immovable properties located at Mouje Korche by various sale deeds i.e. 22-02-2011, 17-03-2011 etc. as shown in para 8 of the assessment o....