https://www.taxtmi.com/caselaws?id=338576 The Tribunal allowed the appeal of the assessee, holding that the exemption under Section 54 of the Income Tax Act is available for the sale of multiple residential houses with corresponding investments in residential houses. The decision was based on interpreting "a residential house" to include multiple residential houses and provisions of the General Clauses Act. The Tribunal ordered that indexed gains from the sale of each flat should be considered against corresponding investments in residential houses, allowing the most beneficial combination to the assessee. The appeal was partly allowed. en-us Fri, 02 Dec 2016 00:00:00 +0530 Tue, 07 Feb 2017 15:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338576 The Tribunal allowed the appeal of the assessee, holding that the exemption under Section 54 of the Income Tax Act is available for the sale of multiple residential houses with corresponding investments in residential houses. The decision was based on interpreting "a residential house" to include multiple residential houses and provisions of the General Clauses Act. The Tribunal ordered that indexed gains from the sale of each flat should be considered against corresponding investments in residential houses, allowing the most beneficial combination to the assessee. The appeal was partly allowed. Case-Laws Income Tax Fri, 02 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338576