I think u can take exemption in more then one paper ..max 3 paper in a group ..but u must not have avail the exemption earlier.. and u got exemption in all subject in one attempt
"
(6)Grant of Exemption : A candidate who has appeared in all the papers comprised in a group / unit and fails in one or more papers comprised in a group / unit but secures a minimum of 60 percent of the marks in any paper or papers of that group shall be eligible to appear at any one or more of the immediately next three following examinations in the paper or papers in which he secured less than 60 percent marks. He shall be declared to have passed in that group / unit if he secures at one sitting a minimum of 40 percent marks in each of such papers and a minimum of 50 percent of the total marks of all papers of that group / unit including the paper or papers in which he had secured a minimum of 60 percent marks in the earlier examination referred to above. He shall not be eligible for any further exemption in the remaining paper(s) of that group / unit until he has exhausted the exemption already granted to him in that group / unit."This is extract from institute's website which clearly depicts that there is no limit on number of exemptions
CAclubindia
