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2005 (12) TMI 258 - ITAT MADRAS-DExtract: .......rather bigger HUF, i.e., V. Ramakrishnan was the owner of the property. Accordingly, we hold that the assessee is entitled for exemption under s. 54F of the Act for investing the long-term capital gains in the construction of new residential house and set aside the orders of the lower authorities. 19. In the result, the appeal is allowed on merits.
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