Multiple houses in single residential complex constitutes “a residential house” for Section 54/ 54F

V.V.V. Satyanarayana Vs ITO (ITAT Hyderabad)

Contention of Revenue

Assessee’s claim of exemption u/s. 54F was also rejected by the AO, since as per Section 54F, if the assessee owns more than one residential house other than the new asset as on the date of transfer of the original asset and since the assessee owns five residential units as on the date of transfer of capital asset(undivided) share of land, other than the two flats occupied by him, the assessee is not

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