Vacant land couldn’t be treated as residential house while determining eligibility of Sec. 54F exemption

INCOME TAX: Where assessee was denied benefit of deduction under section 54F on ground that assessee owned more than two residential houses, other than new asset on date of transfer of original asset, since properties were in fact not residential houses owned by it and assessee had only given lease of vacant land and obtained rent for land and not for any building, and thus, assessee did not own more than one residential house, other than new asset on date of transfer of original asset,

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000195632/vacant-land-couldn’t-be-treated-as-residential-house-while-determining-eligibility-of-sec-54f-exemption.aspx