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Appellant wrongfully denied tax exemption u/s 54F for multiple flats; amendment not applicable for assessment year 2009-10.
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....Exemption u/s 54F - Denial of exemption as appellant received multiple number of flats - Amendment to section 54 & 54F, restricting the claim of deduction to one residential unit was introduced by Finance (No.2) Act, 2014 w.e.f. 1.4.2015 (i.e. from AY 2015-16). Since we are concerned with assessment year 2009-10, the amendment brought out by Finance (No.2) Act, 2014 does not have application for the instant case. - AT....