US-P03.001ab ।US-P03.001cd ॥
In plain words
If the Lord were something other than you, you could not hold the thought 'I am He.' But if the Lord is the Self — then 'I am the Lord,' and that knowledge cancels every other idea you had about yourself.
Close to the Sanskrit
If the Lord were the non-Self, one should not hold 'I am that one.' If [the Lord is] the Self, [then] 'I am the Lord' — that knowledge is the remover of everything other.