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2022 (2) TMI 119 - AT - Income TaxDenial of exemption u/s.54F - second unit of the house purchased by the assessee - As per revenue exemption was available only for one residential unit and not the two residential units purchased by the assessee - HELD 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 position, is albeit factually correct, but, in the given facts, even the amended provision comes to the rescue of the assessee inasmuch as the assessee acquired one residential house only comprising of two flats. The assessee deserves exemption u/s.54F on second unit as well. The impugned order is set-aside to this extent. - Decided in favour of assessee.
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