Held that the Assessing Officer in the course of assessment proceedings has made due inquiries about the capital gain earned on sale of agricultural land as well as the assessee’s claim of exemption under S. 54F, the assessee has submitted voluminous evidences in support of his claim of exemption. Order of CIT was quashed.(AY. 2015-16)
Daljit Singh Bassi v. PCIT (2022) 220 TTJ 5 (UO)(Chd)(Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Investment in a residential house-Proper enquire was made by the Assessing Officer, purchase deed and other documents were filed-Revision is not valid [S. 54F, 143(3)]