https://www.taxtmi.com/caselaws?id=214861 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision, allowing the assessee's claims for exemptions under both Sections 54EC and 54F, dismissing the revenue's appeal. It was held that there is no statutory restriction preventing the assessee from claiming exemptions under both sections for different parts of the capital gain, provided conditions are met. The Tribunal also ruled that the four flats purchased by the assessee should be treated as one residential house under Section 54F since they were merged into one duplex unit before possession, as per the agreement with the builder. en-us Fri, 15 Jun 2012 00:00:00 +0530 Wed, 18 Jul 2012 08:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214861 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision, allowing the assessee's claims for exemptions under both Sections 54EC and 54F, dismissing the revenue's appeal. It was held that there is no statutory restriction preventing the assessee from claiming exemptions under both sections for different parts of the capital gain, provided conditions are met. The Tribunal also ruled that the four flats purchased by the assessee should be treated as one residential house under Section 54F since they were merged into one duplex unit before possession, as per the agreement with the builder. Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214861