https://www.taxtmi.com/caselaws?id=438199 The Tribunal allowed the Revenue's appeal, denying the assessee exemption under Section 54F of the Income Tax Act due to owning multiple residential houses, making them ineligible for the exemption. The Tribunal upheld that if the assessee owns more than one residential house at the time of the asset transfer, the deduction under Section 54F cannot be availed, ultimately ruling in favor of the Revenue. en-us Tue, 23 May 2023 00:00:00 +0530 Thu, 25 May 2023 16:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438199 The Tribunal allowed the Revenue's appeal, denying the assessee exemption under Section 54F of the Income Tax Act due to owning multiple residential houses, making them ineligible for the exemption. The Tribunal upheld that if the assessee owns more than one residential house at the time of the asset transfer, the deduction under Section 54F cannot be availed, ultimately ruling in favor of the Revenue. Case-Laws Income Tax Tue, 23 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438199