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2014 (4) TMI 387 - AT - Income TaxDenial of claim of exemption u/s 54F of the Act - Whether the building constructed by the assessee on which exemption u/s 54F of the Act has been claimed is a residential building as claimed by the assessee or a building constructed for commercial use – Held that:- The primary fact which is required to be examined is whether the building has been constructed for residential use or not - This can be verified from the approved plan and architectural design of the building - the plan of the constructed building has not been brought on record – thus, it is difficult to arrive at a conclusive finding with regard to the nature of the building – thus, it is required to be remitted back to the AO to conduct necessary enquiry to find out the exact nature of construction. A residential house does not mean a single residential house - Even where the assessee constructs or receives a number of flats adjacent to each other or in different floors of the same building then also the assessee would be entitled for exemption u/s 54F of the Act – Relying upon In this context, we rely on a decision of the Hon’ble Jurisdictional High Court in case of CIT vs. Syed Ali Adil [2013 (6) TMI 278 - ANDHRA PRADESH HIGH COURT] - the matter is remitted to the file of the AO for fresh adjudication - Decided in favour of Assessee.
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