https://www.taxtmi.com/caselaws?id=354058 The Tribunal upheld the decision of the Ld. CIT(A), ruling that the assessee was entitled to the exemption under Section 54 for all eight flats as they were intended for the residential use of the joint family. The Tribunal held that the amendments to Section 54 by the Finance Bill 2014-15, restricting the deduction to "one independent residential unit," were not applicable for the assessment year in question. The decision was based on established precedents and the specific factual circumstances of the case, and the Revenue's appeal was dismissed on 09th January 2018. en-us Tue, 09 Jan 2018 00:00:00 +0530 Wed, 17 Jan 2018 12:02:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354058 The Tribunal upheld the decision of the Ld. CIT(A), ruling that the assessee was entitled to the exemption under Section 54 for all eight flats as they were intended for the residential use of the joint family. The Tribunal held that the amendments to Section 54 by the Finance Bill 2014-15, restricting the deduction to "one independent residential unit," were not applicable for the assessment year in question. The decision was based on established precedents and the specific factual circumstances of the case, and the Revenue's appeal was dismissed on 09th January 2018. Case-Laws Income Tax Tue, 09 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354058