Can assessee claim exemption U/s. 54 for acquisition of more than one house?

Where more than one residential house is purchased out of the sale proceeds of one residential house, exemption u/s 54 can be claimed only in respect of one house, provided the other conditions of Sec 54 are satisfied. [K.C. Kaushik v ITO 185 ITR 499 (Bom.)(1990)]. —— Bombay High Court K.C. Kaushik vs P.B. Rane, Date of Pronouncement- 2 April, 1990 Equivalent citations: 1990 (3) Bom CR 160, 1990 185 ITR 499 Bom Bench: T Sugla JUDGMENT T.D.Sugla 1. The petitioner is in the service of the Bank of Baroda. He purchased a flat in Suvarnadeep Co-operative Housing Society Limited (fo...