https://www.taxtmi.com/caselaws?id=3006 The High Court ruled in favor of the Revenue regarding the interpretation of section 54F of the Income-tax Act, 1961. It held that if the assessee owned more than one residential house at the time of transfer, the exemption would not apply, as the income from the additional house would be taxable. The Court also emphasized that registration was not necessary for claiming benefits under section 54F, focusing on actual possession as a key factor in determining eligibility for exemption. en-us Wed, 25 Apr 2007 00:00:00 +0530 Wed, 30 Jul 2008 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3006 The High Court ruled in favor of the Revenue regarding the interpretation of section 54F of the Income-tax Act, 1961. It held that if the assessee owned more than one residential house at the time of transfer, the exemption would not apply, as the income from the additional house would be taxable. The Court also emphasized that registration was not necessary for claiming benefits under section 54F, focusing on actual possession as a key factor in determining eligibility for exemption. Case-Laws Income Tax Wed, 25 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3006