Prior to A.Y 2015-16 no restriction on number of residential houses U/s. 54

Ravi Shankar Vs. ACIT (ITAT Mumbai)

It was submitted by the ld. A.R that the term “a residential house” nowhere provided any restriction as regards the number of the residential houses in which an investment could validly be made by an assessee for claim of deduction under Sec. 54 of the Act. The ld. A.R in order to fortify his aforesaid contention submitted that the legislature in all its wisdom had substituted the term “a residential house” by “one residential house in India”, vide the Finance (No. 2) Act. 201

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