2011 (1) TMI 551

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....Tribunal holding that though the assessee purchased two flats out of the income derived from the sale of a residential premises, as she has utilized the same for a single residential unit she is not liable to pay capital gains tax. 2. The assessee and her son sold their property situated at No. 326, Upper Palace Orchards, Bangalore and utilized the sale consideration for the purchase of two flats....

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....appeal to the Tribunal, which upheld the order of the Commissioner and dismissed the appeal. Aggrieved by the same, the revenue is in appeal. 4. The material on record discloses that the two flats purchased by the assessee were situated side by side. The builder has also stated that he had effected modifications to the flats to make them one unit by opening the door in-between the two apartments.....

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....d after the sale of the original asset can also be buildings or lands appurtenant thereto, which also should be 'a residential house'. Therefore, the letter 'a' in the context it is used should not be construed as meaning "singular". But being an indefinite article, the said expression should be read in consonance with the other words 'buildings' and 'lands' and therefore, the singular 'a resident....