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2018 (2) TMI 172 - ITAT PUNEDeduction u/s. 54 - justification on purchase of two flats in different localities on account of family compulsions - Held that:- We are of considered view that the assessee is eligible to claim deduction u/s. 54 in respect of only one flat of his choice. We do not find any infirmity in the findings of authorities below in restricting deduction to ₹ 50,89,950/- i.e. the cost of one flat. Accordingly, ground No. 1 raised in appeal by assessee is dismissed. Expenditure paid as compensation to the tenant for vacating the premises - Held that:- The said tenant in affidavit has admitted to have received ₹ 12,00,000/- for relinquishing his tenancy rights. The ld. AR submitted that since, the ancestral house was jointly owned by assessee and Jayant Dattatraya Bhalerao and Ashok Dattatraya Bhalerao, all the three co-owners equally contributed towards the payment of compensation to Shri Vaman Shriniwas Kulkarni. Thus, 1/3rd share of assessee comes to ₹ 4,00,000/-. The assessee has filed affidavit of tenant as additional evidence for the first time before Tribunal. Under such circumstances we deem it appropriate to remit ground No. 2 to Assessing Officer for verification of facts. The Assessing Officer shall decide this issue de-novo
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