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2019 (4) TMI 1293 - AT - Income TaxDeduction u/s 54 - treatment as residential house for the purpose - HELD THAT:- Merely dealing in purchase and sale of residential building/property will not be regarded as a residential house but only when a residential unit is purchased for the assessee’s own residential purpose then, it will be treated as a residential house for the purpose of Section 54. There is no dispute that the assessee has purchased two separate flats at two floors 10th and 11th of the building. Therefore, for considering the two flats as a residential house the various aspects are to be taken into consideration as discussed by us in the foregoing part of this order as well as the term residential house discussed in the various decisions. Issue requires a proper verification and examination in light of the above discussion and observation. Accordingly, the matter is set aside to the record of the Assessing Officer for proper examination and verification of the relevant facts and then decide the same in light of the observation discussed by us in this order. Appeal filed by the assessee is allowed for statistical purposes.
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