Section 54 exemption eligible on multiple residential houses before A.Y. 2015-16

Sunandan Kumar Minocha Vs ITO (ITAT Delhi)

ITAT held that assessee is eligible for claim of exemption u/s 54 in respect of purchase of 3 different residential houses and amendment brought in the Finance Act, 2014 w.e.f. 01.04.2015 will not be applicable in AY 2013-14.

FULL TEXT OF THE ORDER OF ITAT DELHI

Aforesaid appeal has been filed by the assessee against impugned order dated 26.02.2018, passed by the ld. CIT (Appeals)-27, New Delhi for the quantum of assessment passed under section 143(3) of the Income-tax Act, 1961 (for short ‘the Act’) for the assessment year 2013-14.

2. In the grounds of appeal, the assessee has raised the following grounds :-

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