Triplex flat constitutes a single residential unit for Section 54 Exemption: ITAT Mumbai

Bhaskar Prataprai Shah Vs DCIT (ITAT Mumbai)

Income Tax Appellate Tribunal (ITAT) Mumbai addressed the appeal of Bhaskar Prataprai Shah regarding the rejection of his Section 54F deduction claim. The case revolved around whether the purchase of a triplex flat, composed of three interconnected units, qualifies as a “single residential house” for tax exemption under Section 54F of the Income-tax Act, 1961. Shah had invested the proceeds from the sale of shares into this property and argued that, despite being composed of three identifiable units, it functioned as a single

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