Sections 54 & 54F Apply to One Residential House Unless Adjacent Units Form a Single Unit

Neville J Pereira Vs ITO (ITAT Mumbai)

The case of Neville J Pereira vs. ITO before ITAT Mumbai focused on the disallowance of exemption under Section 54 of the Income Tax Act, 1961. The assessee had sold a residential property and reinvested in four new flats in the same building, claiming exemption under Section 54. The Asses

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