https://www.taxtmi.com/caselaws?id=28358 The court ruled in favor of the Revenue, determining that the assessee was ineligible for the exemption under section 54 of the Income Tax Act. The court found that the assessee did not meet the requirement of continuous residence in the property for two years preceding the transfer, as the property sold was extensive and portions were sold earlier. The absence of evidence supporting continued residence and the assessee renting another house led to the decision that the exemption could not be claimed for the years in question. en-us Thu, 10 Jan 1980 00:00:00 +0530 Sat, 20 Feb 2010 18:38:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28358 The court ruled in favor of the Revenue, determining that the assessee was ineligible for the exemption under section 54 of the Income Tax Act. The court found that the assessee did not meet the requirement of continuous residence in the property for two years preceding the transfer, as the property sold was extensive and portions were sold earlier. The absence of evidence supporting continued residence and the assessee renting another house led to the decision that the exemption could not be claimed for the years in question. Case-Laws Income Tax Thu, 10 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28358