https://www.taxtmi.com/caselaws?id=64353 The Tribunal ruled in favor of the assessee, allowing the exemption for all three flats claimed under section 54 for capital gains on a residential property. It emphasized that the definition of a residential house should consider the unity of structure and family occupation, not just the number of self-contained units. The Tribunal found that the CIT(A) should have accounted for all family members residing in the property, including the widowed daughter, when determining the exemption. The decision underscored an inclusive approach, aligning with precedent, that considers practical and familial aspects in defining a residential house for tax exemption purposes. en-us Fri, 21 Apr 2006 00:00:00 +0530 Mon, 18 Mar 2024 18:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64353 The Tribunal ruled in favor of the assessee, allowing the exemption for all three flats claimed under section 54 for capital gains on a residential property. It emphasized that the definition of a residential house should consider the unity of structure and family occupation, not just the number of self-contained units. The Tribunal found that the CIT(A) should have accounted for all family members residing in the property, including the widowed daughter, when determining the exemption. The decision underscored an inclusive approach, aligning with precedent, that considers practical and familial aspects in defining a residential house for tax exemption purposes. Case-Laws Income Tax Fri, 21 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64353