Different floors to be construed as single residential unit for Section 54F deduction: ITAT Delhi

Lata Goel Vs ACIT (ITAT Delhi) ITAT Delhi held that different floors of a property cannot be construed as independent residential unit and instead had to be construed only as a single residential unit for purpose of claiming deduction u/s. 54F. Accordingly, grounds raised by revenue dismissed. Facts- During the year under consideration, the assessee claimed deduction u/s 54F of the Act to the tune of ₹90 crores on the account of reinvestment made in another residential house property. The assessee during the year sold shares of FIITJEE Ltd for ₹90 crores and reinvested in new residential h...