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2 orders · Page 1 of 1
The Tribunal held that Section 54F allows exemption for the purchase of a residential house, and the CIT(A) erred in allowing exemption only for the constructed area. The Tribunal remanded the matter for fresh adjudication.
The Tribunal found the factual determination of the land's distance from the municipality to be indeterminate. Therefore, the matter was restored to the Assessing Officer for fresh adjudication.