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In favour of assessee.The claim of the assessee under section 54F of the Act is certainly plausible in law and thus the action of the AO is not open to attack on the grounds of being arbitrary and capricious.

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Section 54F read with section 263 of the Income Tax Act, 1961 — Capital gains — Exemption — Multiple residential units are included within sphere of section 54F — Smt. Minal Nayan Shah vs. Principal Commissioner of income tax [2020] 180 ITD 149 (Ahmedabad-trib)

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