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2021 (10) TMI 901 - AT - Income TaxAddition towards relief claimed u/s 54F - purchase of residential house property located at first floor of a complex having shops constructed on ground floor - HELD THAT:- As per the permission granted by the Municipal Corporation, Bhopal, the ground floor is to be utilized for commercial activities and thus shops are constructed on ground floor and first floor to be utilized for residential purpose. We also find that the assessee has purchased a property as a residential property and registering authority have also registered the said purchase after charging expenses valuing the said property for stamp duty value as a residential property. Copy of registration papers and guidelines for stamp duty valuation are placed on record. It is noteworthy that Electricity Department had also considered the use of the said premises as a residential use and has charged the electricity rates accordingly. Perusal of record also shows that the assessee has submitted the copy of the Municipal receipt and return during the course of assessment proceedings itself. Municipal authorities have charged the property tax treating it as a residential property. From perusal of the purchase deed we find that the complete details of the property purchased by the assessee is mentioned which is measuring 864 sq.ft. and consists of residential rooms all located at first floor. Copies of electricity bills relating to the property in question are also placed in the paper book which also supports the contention that the property is used for residential purpose. We are satisfied with the contention made by the Ld. counsel for the assessee and Ld. DR being unable to place any contrary material to prove otherwise, are of the considered view that the assessee has rightly claimed exemption u/s 54F for purchase of residential house property located at first floor of a complex having shops constructed on ground floor - Decided in favour of assessee.
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