2026 (9) TMI 926

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....pointed out that the appeal is barred by limitation as the assessee has filed the appeal before this Tribunal with a delay of 10 months. Assessee has filed an affidavit explaining the reasons stating that the assessee was suffering from spinal cord related issued. In support, the assessee has submitted Medical Certificate issued by Dr. Amul Dhande, Nirmal Plus Multispeciality Clinic, Nagpur. On due consideration of the said reasons, we find that there exists 'reasonable cause' for not filing the appeal within the stipulated time limit. We find that the delay is not intentional and therefore placing reliance on the judgments of Hon'ble Apex Court in the case of Collector, Land Acquisition, Anantnag & Anr. Vs. Mst. Katiji & Ors. reported in (....

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....e assessee was unable to substantiate its claim. Resultantly, deduction u/s. 54B claimed by the assessee was denied and share of sale consideration of the assessee at Rs. 41,60,930/- as reduced by the cost of acquisition at Rs. 10,000/- was treated as undisclosed short term capital gain at Rs. 41,50,930/-. Income assessed at Rs. 41,52,140/-. 6. Aggrieved assessee preferred appeal before ld.CIT(A) and filed additional evidences under Rule 46A stating that the assessee is eligible for deduction u/s. 54F of the Act for the construction of house on a land acquired in the year 2011 and that the construction has been completed within three years from the date of transfer of Agricultural land sold during the year and deduction u/s. 54F claimed ....