TMI Blog2004 (7) TMI 68X X X X Extracts X X X X X X X X Extracts X X X X ..... e of a firm and hence the Assessing Officer was not justified in holding that the benefit of section 54F is not available to him. According to us, the restricted remand by the Appellate Tribunal is not correct. The Assessing Officer, according to us, should consider again on remand, the question whether the building at Thodupuzha is a residential house, taking into account the proviso of section 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and also for the reasons noted in the enclosure, the assessee is entitled to the benefit of section 54F of the Income-tax Act?" The dispute herein lies in a very narrow compass. The assessee's residential building in Panampilly Nagar was sold. He constructed another residential building at Kottayam. He has got another building at Thodupuzha, where, it is stated that a firm, of which he is a part ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d is made to the Assessing Officer. The question now posed before us is that whether the Tribunal was correct in considering that the building at Thodupuzha is not a residential house. Learned counsel for the Department submitted the fact that the building at Thodupuzha is a residential house is not disputed. What is now stated by the assessee is that the building is not used for residence. On t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... estion No. 1 in favour of the Department and against the assessee. So far as the second question of law is concerned, it depends upon the ultimate decision, to be taken by the Assessing Officer. Hence, it is not necessary for us to decide the question now. The assessee is entitled to produce all evidence before the Assessing Officer to bring home the points raised by him. Income-tax Reference is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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