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2021 (11) TMI 45 - AT - Income TaxDeduction u/s 54F denied - owning more than one residential house at the time of sale of original asset - scope of amendment brought in Finance (No.2) Act 2014 to the proviso to section 54F(1) - as submitted residential property in Jayanagar has to be considered as one residential house since it is a duplex house containing single Khatha number, single Property Identification (PID) number - HELD THAT:- As in case of Bhatkal Ramarao Prakash [2019 (2) TMI 1059 - ITAT BANGALORE] has held that a residential house where ground floor is used for assessee’s own residence and the first floor was let out has to be considered as one residential house for the purposes of S. 54F of the Act though having independent entries, deduction has to be allowed. The assessee is having one building which consists of two units; one was let out and another is self-occupied by the assessee. The assessee owns one independent building which has two units one in ground floor and another in first floor and having two units cannot change the nature of the building, it remains as “one residential house” as in the case of Shri Ramaiah Harish [2021 (9) TMI 1138 - ITAT BANGALORE] Thus, we direct the AO to allow deduction u/s. 54F of the Act. The grounds raised by the assessee are allowed.
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