Court Upholds Assessing Officer's Interpretation of "Residential House" u/s 54, Quashes Revision u/s 263.

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Full Text of the Document

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....Revision u/s 263 - interpretation of ‘a residential house’ u/s 54 - AO with due application of mind, after making requisite inquiries, accepted assessee’s claim u/s 54 which is apparent on relevant material on record including specific queries and the documents/information supplied by assessee - revision quashed....