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| The Tax Publishers2020 TaxPub(DT) 4804 (Bang-Trib) INCOME TAX ACT, 1961
Section 254(2)
Where Tribunal had clearly observed that the entire property constitutes one residential house, but was bifurcated with two with common entrance only to earmark the share of each beneficiary and that otherwise, the property constitutes a single property, there was no mistake, much less an apparent mistake, in the order of Tribunal while granting deduction under section 54F.
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Appeal (Tribunal) - Rectification under section 254(2) - No apparent mistake from record -
Revenue filed miscellaneous petition under section 254(2) for rectification of certain apparent errors in the order of Tribunal holding that assessee should not own more than one house, other than the new asset while claiming deduction under section 54F.Held: The Tribunal had clearly observed that the entire property constitutes one residential house, but was bifurcated with two Door Nos. for Ground Floor and 1st Floor with common entrance in Ground Floor only to earmark the share of each beneficiary and that otherwise the property constitutes a single property, though it has two different Door Nos. Thus, there was no mistake, much less an apparent mistake, in the order of Tribunal while granting deduction under section 54F.
REFERRED :
FAVOUR : In favour of assessee.
A.Y. :
IN THE ITAT, BANGALORE BENCH
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