AO denied benefit of section 54F  on the ground that the  assessee is   owning 16.67 per cent rights of six flats. CIT(A) affirmed the order of the AO. On appeal the Tribunal held that, exemption cannot denied on the ground that the assessee also  jointly owning 16.67 per cent rights in six flats. Tribunal held that joint ownership/part ownership  cannot be treated as absolute ownership in the absence of any specific words  in the section 54F of the Act. Followed  ITO v. Rasiklal N. Satra (2006) 100 TTJ 1039/ 98 ITD 335 (Mum)(Trib), Ashok G. Chauhan v. ACIT (2019) 200 TTJ 659/ 105 taxmann.com 204 (Mum)(Trib), Anant R. Gawande v. ACIT (2022) 144 taxmann.com 127 (Mum)(Trib)   (AY-2016-17)