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 Office

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