https://www.taxtmi.com/caselaws?id=118963 The Tribunal ruled in favor of the assessee, allowing the deduction under Section 54 of the Income-tax Act for Long-Term Capital Gain reinvested in a new residential property. Despite separate agreements for purchase and sale, the property was considered a single residential unit. The temporary commercial use of a part of the property did not disqualify it from the residential exemption. The Tribunal upheld the decision to grant the deduction and dismissed the Revenue's appeal. en-us Tue, 12 Jul 2005 00:00:00 +0530 Sat, 07 Jul 2012 11:04:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118963 The Tribunal ruled in favor of the assessee, allowing the deduction under Section 54 of the Income-tax Act for Long-Term Capital Gain reinvested in a new residential property. Despite separate agreements for purchase and sale, the property was considered a single residential unit. The temporary commercial use of a part of the property did not disqualify it from the residential exemption. The Tribunal upheld the decision to grant the deduction and dismissed the Revenue's appeal. Case-Laws Income Tax Tue, 12 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118963