Adjoining residential houses constitutes a single unit for section 54/54F

Surinder Kumar Malhotra Vs ITO (ITAT Chandigarh) The relevant facts of the case are that qua the Long Term Capital Gain available to the assessee in the year under consideration deduction u/s 54 of the Act was claimed. The said claim was disallowed holding that the proceeds have been applied to acquiring two separate properties. The assessee has pleaded that these were adjoining properties and may be treated as a single unit in terms of various decisions available. However, the said request was not accepted. The ld. CIT(A) has dismissed the appeal on the legal issue and has held in para 6 that...