TMI Blog2019 (12) TMI 1616X X X X Extracts X X X X X X X X Extracts X X X X ..... section 54 vide Finance Act, 2014 w.e.f 01.04.2015. We are of the considered opinion that the Legislature, in its wisdom, has given effect to the amended provision from 01.04.2015 and, therefore, there is no ambiguity as the said provisions are effective from A.Y 2015-16. Similar view was taken by the Authority for Advance Rulings, New Delhi in the case of Dipankar Mohan Ghosh [ 2018 (1) TMI 9 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Commissioner of Income Tax [Appeals] - 10, New Delhi dated 21.03.2016 pertaining to assessment year 2013-14. 2. The solitary of the grievance of the assessee is that the ld. CIT(A) erred in confirming the disallowance of claim of exemption u/s 54/54F of the Income tax Act, 1961 [hereinafter referred to as 'The Act' for short]. 3. Briefly stated, the facts of the case are that duri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ying the claim of exemption. 5. The assessee carried the matter before the ld. CIT(A) but without any success. 6. While dismissing the claim of the assessee, the ld. CIT(A) placed reliance on the decision of the co-ordinate bench in the case of Leena J. Shah order dated 10.11.2005 7. Before us, the ld. counsel for the assessee vehemently stated that the amendment brought in section 54 is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing the property situated in India, the assessee has purchased a residential property in Auckland, New Zealand. It is equally true that the amendment has been brought in section 54 vide Finance Act, 2014 w.e.f 01.04.2015. We are of the considered opinion that the Legislature, in its wisdom, has given effect to the amended provision from 01.04.2015 and, therefore, there is no ambiguity as the said ..... X X X X Extracts X X X X X X X X Extracts X X X X
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