1984 (4) TMI 9 - HC - Income Tax

Summary

The High Court of Madras held that for claiming exemption under section 54 of the Income-tax Act, an unbroken or continuous period of two years of residence is necessary. The court disagreed with the Income-tax Appellate Tribunal's view that such continuous residence is not required. The court cited previous decisions supporting their opinion and ruled in favor of the Revenue. (Case citation: 1984 (4) TMI 9 - MADRAS High Court)