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Case Law Details

Case Name : The Asst.Commissioner of Income-tax Vs Sri.N.S.Viswanathan (ITAT Cochin)
Related Assessment Year : 2013-2014
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ACIT Vs Sri.N.S.Viswanathan (ITAT Cochin)

Section 54 / 54F of the I.T.Act was amended with effect from 01.04.2015 by the Finance Act, 2014 with the term “constructed one residential house”. Prior to the amendment, the term used in section 54 / 54F of the I.T.Act was “constructed a residential house”. Subsequent to the amendment of law, it is clear that the assessee is not entitled to the benefit of section 54 / 54F with regard to two residential units purchased by him. The co-ordinate Delhi Bench of the Tribunal in the case of Laxman Singh Rawat v. ACIT

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