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The ld. CIT(A) accepted the assessee’s contention and then came to hold that the assessee was not eligible for exemptions u/s.54B and 54F because the ownership of the property did not vest in him and hence the exemption was not available. The assessee has come up in appeal against such finding.

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Sec. 54B & 54F of Income Tax Act, 1961—Capital Gain— If an assessee is not legally chargeable to tax, he can validly make such a claim before the CIT(A) notwithstanding the fact that the amount was wrongly included in the return of income, thus, the contention of the ld. DR objecting to raising a fresh claim before the ld. CIT(A) for the first time is, ergo, jettisoned, therefore, it was held that not only the assessee was justified in making a claim of Partition Deed in the first appeal, the ld. CIT(A) was also fully within his jurisdiction in entertaining such a claim. - SHIVRAM RAKHMAJ BANKAR V/s DEPUTY CIT - [2020] 28 ITCD Online 052 (ITAT-PUNE)