The assessee has computed long term capital gain after deducting cost of acquisition and claimed exemption u/s.54F of the Act for purchase of two residential properties amounting to Rs. 83 lakhs and Rs.69 lakhs. The assessee further stated that claim of exemption u/s.54F of the Act was in accordance with law, because before amendment to section 54F by the Finance Act, 2014 w.e.f. 1-4-2015, benefit of section 54F will be applicable to more than one residential house and hence, even if the assessee has purchased two different houses, exemption cannot be denied u/s.54F of the Act. The Assessing Officer was not convinced with the explanation furnished by the assessee and according to him, as per provisions of section 54F of the Act, the assessee is not eligible for exemption u/s.54F, because he has purchased another residential house other than the new asset, within a period of one year after the date of transfer of the original asset and accordingly, rejected the exemption claimed u/s.54F of the Act and recomputed the long term capital gains from transfer of property. CIT (A) affirmed the order of the Assessing Officer. Tribunal held that the assessee is not entitled for exemption u/s.54F of the Act for purchase of two residential houses at two different locations on two different dates. The position remains same even after amendment to section 54F by the Finance Act, 2014 w.e.f. 1-4-2015.  Accordingly the order of CIT (A) is affirmed. Tribunal also  observed that  as per provisions of section 54, assessee can buy multiple houses, when he sold a residential house and reinvest sale consideration for purchase of another residential house, but there is restriction for purchasing more than one residential house under section 54F.   (AY. 2013-14)