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2021 (4) TMI 129 - HC - Income TaxExemption u/s 54F in respect of investment made in a house property in USA (foreign country) - Whether assessee has not fulfilled the conditions set out in the said section to avail benefit under the said provision as the assessee has invested in property outside India which cannot be said that assessee has satisfied the conditions set out in the said section? - HELD THAT:- As decided in case of Commissioner of Income Tax vs. Vinay Mishra [2020 (9) TMI 96 - KARNATAKA HIGH COURT] assessee has made investment in a residential house in USA (foreign country) prior to 01.04.2015 and would be entitled to claim exemption under Section 54F in respect of investment made in a house property in USA (foreign country). In the light of the judgment delivered by Division Bench of this Court, as the controversy involved has already been adjudicated, the questions of law are answered against the revenue and in favour of the assessee.
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