Capital Gain Exemption - Fractional Ownership - Income Tax

There are few judgments Eg:- CIT v/s Narendra N Chahan 2001 (10) TMI 14 - GUJARAT HIGH COURT wherein it was held that the assessee is eligible for capital gain exemption u/s 54 / 54F even if he acquires fraction of residential property. I would like to know the views of expert whether such judgment still hold good even after amendment by the Finance Act 2014 substituting the words a residential house with one residential house. There is a condition for claiming exemption provided u/s 54F that the assess should not own more than one residential house on the date of transfer of non-residential property. While dealing with the disputes for exemption claim under this section courts have held that the person owns 100% share in one residential property fractional share in another residential property at the time of sell of non-residential property. The exemption cannot be denied for the reason fraction cannot be considered as one ( Zainul Abedin Ghaswala Versus CIT(A) 2023 (6) TMI 663 - ITAT MUMBA I ) Experts may also give their opinion whether there can be two different interpretations for fractional ownership, one for section 54 one for 54F