Is exemption available for purchase of two residential flat adjacent to each other in same building and necessary modification has been done make it as one and investment is made by two seperate sale deed???
This issue is similar to the case of CIT V. D. Ananda Basappa(2009) 309 ITR 329. Karnataka High court held that the intention of the assessee was to purchase two flats as one residential unit so, exemption u/s 54 is allowed in respect to both flats.
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