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2020 (4) TMI 814 - AT - Income TaxRectification u/s 254 - apparent mistake in the impugned Tribunal order - Deduction u/s 54F - if the assessee is owning more than one residential house other than the new asset on the date of the transfer of the original asset, it has to be seen as to whether income from such residential houses is chargeable under the head “Income from house property" and since this aspect was not examined and decided, there is an apparent mistake in the impugned Tribunal order which should be rectified or this Tribunal order should be recalled - HELD THAT:- Assessee purchased two house properties on 25.04.2014 and 28.04.2014. One of these two properties is new asset for which deduction is claimed u/s 54F. Proviso will be applicable if the condition prescribed in Proviso (b) that income is taxable under the head “Income from House Property” for the second house is satisfied. In para No.11 of the impugned Tribunal order as reproduced above, there is no discussion or finding on this aspect as to whether income from property purchased on these two dates is chargeable to tax under the head ‘income from house property’ or not. There may be various reasons due to which income from house property may not be chargeable to tax under the head ‘income from house property’ and since this aspect was not examined and decided by the Tribunal in the impugned Tribunal order, we find force in the submission of the learned AR of the assessee that there is apparent mistake in the impugned Tribunal order to this extent. We feel it proper to recall this ex-parte Tribunal order for a fresh decision on this limited aspect as to whether the income from these two house properties purchased by the assessee on 25.04.2014 and 28.04.2014 are chargeable to tax under the head ‘income from house property’ or not and thereafter decide about the applicability of the proviso to section 54F(1) - Miscellaneous petition filed by the assessee stands allowed.
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