. Somagyan Pal ORDER R.K. Panda, This appeal filed by the assessee is directed against the order dated 5.11.2008 of the CIT(A)-XX, Mumbai relating to assessment year 2004-05. 2. Facts of the case, in brief, are that the assessee is an individual earning income from salary, house property, capital gains, income from other sources and business income being remuneration and share of profit from registered firm M/s. Surat Road King. The assessee has purchased a residential house in March, 2003 for a sum of ₹ 22,61,757 by taking a housing loan of ₹ 17.50 lakhs from ICICI Bank. Subsequently, he sold certain shares in February, 2004 on which he has earned long term capital gains of ₹ 22,46,199. Accordingly, he claimed exemption u/s. 54F of the Act to the tune of ₹ 22,46,199. The Assessing Officer has reduced the amount of loan to ₹ 17,50,000 from the amount invested in the residential house and calculated the exemption restricting the same to ₹ 5,02,779 onl

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