Multiple Floors in Single Building Not Separate Houses for Section 54 deduction: ITAT Mumbai

Seeta Nayyar Vs ACIT (ITAT Mumbai)

This appeal challenged the order dated 26.08.2025 passed by the National Faceless Appeal Centre (NFAC) for Assessment Year 2015–16. The issues concerned (i) disallowance of indexed cost of acquisition and (ii) denial of deduction under Section 54 of the Income Tax Act, 1961.

The assessee, a resident individual, filed her return declaring income of Rs. 8,03,360/-. She reported long-term capital gain of Rs. 3,37,93,219/- and claimed deduction under Section 54 amounting to Rs. 4,40,49,819/-. The assessee and her husband owned a residential p

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