https://www.taxtmi.com/caselaws?id=277182 The tribunal ruled in favor of the assessee, allowing exemption under section 54 for all three flats gifted, rejecting the CIT (A)'s objection that two flats were not used for residential purposes by the assessee. The tribunal found no requirement in the current provisions that the new residential house must be for the assessee's own residence, allowing for deduction on multiple residential properties. The tribunal distinguished a recent apex court judgment cited by the revenue's DR, stating it applies in cases of ambiguity in exemption provisions, which was not applicable here. en-us Fri, 10 Aug 2018 00:00:00 +0530 Wed, 28 Nov 2018 06:33:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277182 The tribunal ruled in favor of the assessee, allowing exemption under section 54 for all three flats gifted, rejecting the CIT (A)'s objection that two flats were not used for residential purposes by the assessee. The tribunal found no requirement in the current provisions that the new residential house must be for the assessee's own residence, allowing for deduction on multiple residential properties. The tribunal distinguished a recent apex court judgment cited by the revenue's DR, stating it applies in cases of ambiguity in exemption provisions, which was not applicable here. Case-Laws Income Tax Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277182