https://www.taxtmi.com/caselaws?id=361325 The Tribunal upheld the CIT(A)'s decision that exemption under Section 54 of the Income-tax Act cannot be claimed for investments in two residential flats at different locations. The Tribunal emphasized the requirement for a compelling reason to justify such investments, which the assessee failed to provide. The appeal was dismissed on 30.05.2018. The issue regarding investing in one property against the sale of two properties, fulfilling the time limit condition under Section 54, was decided in favor of the assessee and was not contested further. en-us Wed, 30 May 2018 00:00:00 +0530 Mon, 04 Jun 2018 19:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361325 The Tribunal upheld the CIT(A)'s decision that exemption under Section 54 of the Income-tax Act cannot be claimed for investments in two residential flats at different locations. The Tribunal emphasized the requirement for a compelling reason to justify such investments, which the assessee failed to provide. The appeal was dismissed on 30.05.2018. The issue regarding investing in one property against the sale of two properties, fulfilling the time limit condition under Section 54, was decided in favor of the assessee and was not contested further. Case-Laws Income Tax Wed, 30 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361325