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Judgment
This assessee’s appeal for Assessment Year 2015-16 arises against the C IT(A)/NFAC, De lhi’ s DIN & order No. ITBA/NFAC/S/250/2025-26/1083209254(1) dated 02.12.2025, in proceed ings u/s 147 of the Income Tax Act, 1 961 (in short “the Act”).
Heard both the p arties at length. Case file perused.
It is evident during the co urse of hearing at the outset that the assessee/appellant has raised his so le substantive grievance challenging both the lear ned lower authorities assessment as well as lower appellate findings denying section 54F deduction amounting to Rs.1 3,12,313/- in issue.
Learned departmental representative vehemently argues that neither the assessee could p rove sale of the correspond ing residential/capital asset nor re-investment of capital gains in her name which forms the main reason for both the lower authorities to make the impug ned addition.
This tribunal finds no re ason to express its concurrence to the Revenue’s foregoing stand. This is for the pr ecise reason that the assessee has placed on record her allotme nt le tter, agreement to sale (page 1 to 17) as well as copy of purchase deed of the relevant capital asset; all executed in the relevant previous year. That being the case, this tr ibunal finds mer it in her claim that she has indeed re-invested her capital gain in issue in acq uisition of fresh residential property to tre at her entitled for section 54F deductio n. Allowed accordingly.
This assessee’s appeal is allowed.