Section 54 exemption allowable if more than one unit adjacent to each other were as a single residential house

Vijay Kumar Wanchoo Vs ITO (ITAT Delhi) Conclusion: In section 54 was  transfer of a long term capital asset’ being the residential house referred to a residential house which might comprise more than one building or buildings structure; but the same were used as a single residential house. Thus, even if more than one unit were adjacent to each other and were being used as a single residential house by assessee and his family members, the same would be considered as residential house u/s 54 and entitled to exemption. Held: Assessee sold four flats bearing numbers 301, 302, 401 and 402 i...