https://www.taxtmi.com/caselaws?id=250949 The HC held that multiple flats received in exchange for land under Section 54F should be treated as a single residential unit for capital gains exemption purposes. The term "a residential house" in Section 54F is to be interpreted in the plural. The assessee was entitled to claim exemption on five flats received as reinvestment, as the agreement pertained to a percentage of the built-up area, not the number of flats. The built-up area was considered one block, and thus the flats were assessed as one unit. The decision was against the Revenue. en-us Mon, 18 Aug 2014 00:00:00 +0530 Mon, 28 Jul 2025 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250949 The HC held that multiple flats received in exchange for land under Section 54F should be treated as a single residential unit for capital gains exemption purposes. The term "a residential house" in Section 54F is to be interpreted in the plural. The assessee was entitled to claim exemption on five flats received as reinvestment, as the agreement pertained to a percentage of the built-up area, not the number of flats. The built-up area was considered one block, and thus the flats were assessed as one unit. The decision was against the Revenue. Case-Laws Income Tax Mon, 18 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250949