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2023 (9) TMI 1314 - ITAT DELHIDeduction u/s 54F - Claim denied as assessee is already in possession of two residential properties - HELD THAT:- It is the specific case of the assessee that the assessee was owing two properties, one is C-409 IVth Floor Nirvana Courtyard, Sector-50, South City- II, Gurgaon, Haryana, which is ‘commercial property’ and another Property No. 36, Aradhna Enclave, Sector-13, K. R. Puram, New Delhi which is a ‘residential property’. The assessee had produced conveyance deed dated 24/09/2010, wherein it is depicted that the assessee had purchased “shops/Office premises bearing No. 409 Block-C 4th floor, admeasuring super area 1262.51 square feet (117.29 square metre) situated at Nirvana Courtyard, South City-II, Gurgaon, Haryana. But the Ld. A.O. without looking into the conveyance deed, formed an opinion that the assessee is already in possession of ‘two residential properties’. Thus, we are of the opinion, that the A.O. committed error in observing the ‘commercial property’ as ‘residential property’ and also committed error in denying the claim of deduction u/s 54F to the assessee. A.O. ought to have appreciated the fact that the Assessee owns a single residential property and should have allowed the deduction claimed u/s 54F of the Act - Appeal filed by the assessee is allowed.
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