https://www.taxtmi.com/caselaws?id=12771 The court held that the capital gain of Rs. 19,018 was not taxable as the assessee could adjust this amount against the cost of the house constructed for permanent residence, completed on May 29, 1980. The court ruled in favor of the assessee, finding that the provisions of section 54(1)(ii) were applicable to the permanent residence, not the temporary house purchased earlier. en-us Tue, 12 Feb 2002 00:00:00 +0530 Thu, 21 May 2009 18:48:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12771 The court held that the capital gain of Rs. 19,018 was not taxable as the assessee could adjust this amount against the cost of the house constructed for permanent residence, completed on May 29, 1980. The court ruled in favor of the assessee, finding that the provisions of section 54(1)(ii) were applicable to the permanent residence, not the temporary house purchased earlier. Case-Laws Income Tax Tue, 12 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12771