(1.) By way of this appeal, the appellant has assailed the judgment and order of the tribunal whereby tribunal has allowed the appeal of the assessee and modifying the order of CIT(A) as well as AO.
(2.) This court while admitting the appeal on 1.06.2017 framed following substantial question of law:-
(3.) The facts of the case are that the assessee was picked up for scrutiny assessment and the assessment was finalized under section 143(3) of the I.T. Act, 1961 (hereinafter referred to as the Act) vide order dated 20.03.2014. While framing the assessment, the AO declined the claim of deduction under sections 54B and 54F of the Act on the ground that assessee has deposited the net sale consideration in the capital gain account.