https://www.taxtmi.com/caselaws?id=70385 The Tribunal upheld the CIT(A)'s decision, affirming that the assessee met the requirements of Section 54 by purchasing and using the Coimbatore property for personal residence, despite subsequently letting out a portion. The Tribunal emphasized that Section 54 does not prohibit letting out the property after initial compliance and noted the absence of tax avoidance. The department's appeal was dismissed, and the exemption under Section 54 was upheld. en-us Wed, 14 Dec 1988 00:00:00 +0530 Fri, 15 Apr 2011 18:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70385 The Tribunal upheld the CIT(A)'s decision, affirming that the assessee met the requirements of Section 54 by purchasing and using the Coimbatore property for personal residence, despite subsequently letting out a portion. The Tribunal emphasized that Section 54 does not prohibit letting out the property after initial compliance and noted the absence of tax avoidance. The department's appeal was dismissed, and the exemption under Section 54 was upheld. Case-Laws Income Tax Wed, 14 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70385