Section 54F Deduction available on reinvestment in twin residential units

Arunkumar Purshotamlal Khanna Vs PCIT (ITAT Pune)

Held that a residential house for the purpose of section 54F(1) deduction can indeed cover multiple units in same or different towers or residential blocks

Facts-

The main issue in the present case is that the assessee claimed reinvestment of his LTCG u/s. 54F in respect of the purchase of twin residential units. Notably deduction was allowed in the regular assessment u/s 143(3). However,

Please become a Premium member. If you are already a Premium member, login here to access the full content.