VISWANATHAN M Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE question referred to us in respect of the assessment year 1966-67 reads as follows :

(2.) THE assessee had purchased a residential building. This was outstanding with the tenant and it was recovered by the assessee on January 5, 1964. He resided in that building from January 16, 1964. THE building was sold on June 16, 1965. THE question referred has to be answered in the light of the provisions of Section 54 of the Act, the relevant part of which we shall extract: