2022 (2) TMI 119

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....ER R.S.SYAL, VP : This appeal by the assessee is directed against the order passed by the CIT(A) on 24-09-2020 in relation to the assessment year 2015-16. 2. The only issue raised in this appeal is against the denial of exemption u/s.54F of the Income-tax Act, 1961 (hereinafter also called 'the Act') in respect of the second unit of the house purchased by the assessee. 3. Succinctly, the ....

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....t the denial of exemption u/s.54F in respect of one property only on the ground that the exemption was available only for one residential unit and not the two residential units purchased by the assessee. It is also not in challenge that the assessee purchased two flats, numbering, 1101 and 1102 at Malad, Mumbai, which shows that these were adjacent flats, which the assessee claimed to have purchas....

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....tant case, I find that the assessee purchased two flats to be used as a single dwelling unit. Since these two units are adjacent to each other and meant for use as a single property, mandate of the substituted provision, being, one residential house, is still also satisfied. The view point of the ld. CIT(A) that the amendment carried out to section 54F w.e.f. 01-04-2015 has changed the legal posit....