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Multiple Floors Constitute Single Residential House for Section 54F: ITAT Delhi
Case Law Details
- Case Name
- Jyoti Jain Vs DCIT (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
- Courts
- All ITAT, ITAT Delhi
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Jyoti Jain Vs DCIT (ITAT Delhi)
Expression ‘residential house’ used in section 54F denotes one residential house & different floors of the one residential house cannot be considered as separate residential houses
Assessee, Jyoti Jain, owned an industrial plot which she sold through four registered sale deeds for a total consideration of Rs.2.62 crore. Out of the resultant capital gains, she invested Rs.2.10 crore in acquiring the remaining one-half shares in the first & second floors of a residential property at Delhi. The property had earlier been partly purchased in 2011 with her...
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