https://www.taxtmi.com/caselaws?id=263603 The case involved the interpretation of "a residential house" under section 54 of the Income Tax Act. The court ruled in favor of the assessee, allowing exemption for multiple proximal residential units. The assessee, under a Joint Development Agreement, received two flats and part of another, with the court permitting deduction for two flats on the third floor. Proximity between residential units was crucial, with the court emphasizing adjacency and modification for a single unit. The judgment clarified the term "a residential house," upheld deduction eligibility for multiple units, and stressed proximity's importance, favoring the assessee and dismissing the Revenue's appeal. en-us Fri, 07 Aug 2015 00:00:00 +0530 Mon, 07 Sep 2015 07:54:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263603 The case involved the interpretation of "a residential house" under section 54 of the Income Tax Act. The court ruled in favor of the assessee, allowing exemption for multiple proximal residential units. The assessee, under a Joint Development Agreement, received two flats and part of another, with the court permitting deduction for two flats on the third floor. Proximity between residential units was crucial, with the court emphasizing adjacency and modification for a single unit. The judgment clarified the term "a residential house," upheld deduction eligibility for multiple units, and stressed proximity's importance, favoring the assessee and dismissing the Revenue's appeal. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263603