https://www.taxtmi.com/caselaws?id=420554 The Tribunal dismissed the appeal, ruling that the appellant is not entitled to the benefit of Section 54 for investing in two residential units, even if later converted into a single unit. The Tribunal emphasized the legislative intent to limit the exemption to one residential house, requiring a literal interpretation of the statute. The absence of necessary approvals for amalgamation of the two flats further supported the denial of the exemption. en-us Thu, 09 Dec 2021 00:00:00 +0530 Tue, 05 Apr 2022 09:08:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420554 The Tribunal dismissed the appeal, ruling that the appellant is not entitled to the benefit of Section 54 for investing in two residential units, even if later converted into a single unit. The Tribunal emphasized the legislative intent to limit the exemption to one residential house, requiring a literal interpretation of the statute. The absence of necessary approvals for amalgamation of the two flats further supported the denial of the exemption. Case-Laws Income Tax Thu, 09 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420554