Tribunal held  that admittedly, the assessee had purchased two residential flats and had modified those flats and converted two units as one residential unit. This fact was also mentioned in the statement of facts and by the Assessing Officer in the assessment order. The assessee had further sold both the flats through two separate sale deeds. It was an admitted fact that the assessee had purchased the new residential flat within the permitted time period from the sale of the residential flats. Thus, the assessee was entitled to exemption under section 54 of the Act. Hence, the orders of the authorities were to be set aside and the entire addition was to be deleted.(AY. 2009-10)