Assessee has to prove that more than one residential house is not owned at the time of claiming deduction u/s 54F

DCIT Vs Smt. Syama Reddy Malireddy (ITAT Hyderabad) ITAT Hyderabad held that for the purpose of claiming deduction u/s 54F of the Act, it is essential for the assessee to prove that she does not have more than a residential house at the time of claiming deduction u/s 54F of the Income Tax Act. Facts- In the present case, assessee had claimed deduction u/s 54F of Rs.3,63,73,330/-towards purchase of residential property at Hyderabad. However, the claim of assessee was not allowed by the Assessing Officer after examining the submissions of the assessee, as she failed to fulfill the conditions pre...