Deduction u/s 54F Not Eligible for Investment Made in two Differently Placed Properties

Omkar Chadha Vs ITO (ITAT Delhi) The issue under consideration is whether the investment made in two different properties out of the capital gains is eligible for deduction u/s 54F? ITAT states that there has been an amendment in the provisions of the Act wherein “a residential house” has been amended as “one residential house” and argued that this amendment is clarificatory in nature, hence the case laws mentioned are no more applicable to the instant case. Relying on the judgment of the Hon’ble Jurisdictional High Court in the case of CIT Vs Rajendera Kumar, the ld. DR argued that ...