https://www.taxtmi.com/caselaws?id=412351 The Tribunal allowed the appeal of the Assessee, granting relief in the matter of disallowance of exemption under section 54 of the Act. The Tribunal held that the appellant's investment in two adjacent flats qualified for exemption under section 54F for the assessment year 2014-15, based on previous court decisions interpreting the term "a residential house" to include multiple units within the same complex. The Tribunal dismissed the appeal, finding no substantial question of law and concluded that penalty proceedings under section 271(1)(c) were not necessary due to the relief granted in the quantum proceedings. en-us Fri, 10 Sep 2021 00:00:00 +0530 Thu, 16 Sep 2021 09:04:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412351 The Tribunal allowed the appeal of the Assessee, granting relief in the matter of disallowance of exemption under section 54 of the Act. The Tribunal held that the appellant's investment in two adjacent flats qualified for exemption under section 54F for the assessment year 2014-15, based on previous court decisions interpreting the term "a residential house" to include multiple units within the same complex. The Tribunal dismissed the appeal, finding no substantial question of law and concluded that penalty proceedings under section 271(1)(c) were not necessary due to the relief granted in the quantum proceedings. Case-Laws Income Tax Fri, 10 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412351