https://www.taxtmi.com/caselaws?id=71796 The Tribunal upheld the AAC's decision granting exemption of capital gains under Section 54 of the IT Act, 1961 to the assessee. It was determined that the property was mainly used for residential purposes and the ownership period, including that of the previous owner, exceeded two years. The Revenue's appeal was dismissed, affirming the assessee's entitlement to the capital gains exemption. en-us Wed, 30 May 1990 00:00:00 +0530 Wed, 27 Apr 2011 11:28:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71796 The Tribunal upheld the AAC's decision granting exemption of capital gains under Section 54 of the IT Act, 1961 to the assessee. It was determined that the property was mainly used for residential purposes and the ownership period, including that of the previous owner, exceeded two years. The Revenue's appeal was dismissed, affirming the assessee's entitlement to the capital gains exemption. Case-Laws Income Tax Wed, 30 May 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71796