{"id":14296,"date":"2020-12-07T14:06:23","date_gmt":"2020-12-07T14:06:23","guid":{"rendered":"https:\/\/itatonline.org\/digest\/arun-k-thiagarajan-v-citappeals-2020-427-itr-190-193-dtr-153-272-taxman-235-karnhc\/"},"modified":"2020-12-07T14:06:23","modified_gmt":"2020-12-07T14:06:23","slug":"arun-k-thiagarajan-v-citappeals-2020-427-itr-190-193-dtr-153-272-taxman-235-karnhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/arun-k-thiagarajan-v-citappeals-2020-427-itr-190-193-dtr-153-272-taxman-235-karnhc\/","title":{"rendered":"Arun K. Thiagarajan v. CIT(Appeals) (2020) 427 ITR 190 \/193 DTR 153\/ 272 Taxman 235 (Karn)(HC)"},"content":{"rendered":"<p>The assessee declared long-term capital gains and claimed the deduction admissible under S. \u00a054\u00a0in respect of two properties purchased in different locations. The AO restricted the claim for deduction to acquisition of one residential building and accordingly allowed deduction in respect of the higher value of investment in respect of such property. The CIT (A) and Tribunal affirmed the order of the AO . On appeal the Court held that\u00a0 that the assessee was entitled to the benefit of exemption under section\u00a054(1)\u00a0. The courts had interpreted the expression \u201ca residential house\u201d and the interpretation that it included the plural were binding.<em>\u00a0 <\/em>\u00a0Court also held that to give a definite meaning to the expression \u201ca residential house\u201d, the provisions of section\u00a054(1)\u00a0of the\u00a0Income-tax Act, 1961\u00a0were amended with effect from April 25, 2015 by substituting the word \u201ca residential house\u201d with the word \u201cone residential house\u201d. The amendment specifically applied only prospectively with effect from the AY. 2015-16. The subsequent amendment of section\u00a054(1)\u00a0fortifies the need felt by the Legislature to give a definite meaning to the expression \u201ca residential house\u201d, which was interpreted as plural by various courts taking into account the context in which the expression was used. It is well settled in law that an amending Act may be purely clarificatory in nature and intended to clear a meaning of a provision of the principal Act, which was already implicit. Relied on \u00a0CIT v. Ram Kishan Dass\u00a0<a href=\"http:\/\/www.taxlawsonline.com\/%5b2019%5d%20413%20ITR%200337\">[2019] 413 ITR 337<\/a>\u00a0(SC)\u00a0 ( AY: 2003-04)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 54 : Capital gains &#8211; Profit on sale of property used for residence &#8211;<br \/>\nPurchase of  two residential properties in different locations -\u2014Entitled to exemption.  \u2014 Amendment substituting \u201cA\u201d By \u201cOne\u201d \u2014 Applies prospectively. [ S.45 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14296","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3IA","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14296"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14296\/revisions"}],"predecessor-version":[{"id":14297,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14296\/revisions\/14297"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}