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2013 (8) TMI 477 - ITAT CHENNAIExemption u/s 54F - Sale consideration - purchase of five flats - claim of deduction as one house property - Held that:- None of the authorities below has doubted the eligibility of the assessee for claiming an exemption under section 54F of the Act. Their only qualm is that assessee had preferred such claim for all the five flats whereas according to them, such exemption could only be founded to a single flat - A residential house in the context could not be construed as a singular - It is not necessary that all residential units should have a single door number allotted to it - However, this alone was not the reason why assessee was held to be eligible for claiming of exemption under section 54F of the Act - Following decision of CIT v. Smt. K.G. Rukminiamma [2010 (8) TMI 482 - Karnataka High Court] and Dr. Smt. P.K. Vasanthi Rangarajan v. CIT [2012 (7) TMI 563 - MADRAS HIGH COURT] - assessee was eligible for claiming exemption under section 54F of the Act on the five flats received by her in lieu of the land she had parted with. - Decided in favour of assessee.
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