AO and CIT(A) restricted the claim of deduction u/s 54F of the Act by excluding the portion of the residential building which was used for business purpose. It was held by Hon’ble Tribunal that, there was no bar on the assessee on the usage of the new residential property for business purpose. Section 54F of the Act only stipulates that the assessee should have constructed / purchased a residential house within the stipulated time in order to claim the benefit of deduction. It is not necessary that a person should reside in the house to call it a residential house. (AY. 2013-14)