Multiple Floors Constitute Single Residential House for Section 54F: ITAT Delhi

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...