https://www.taxtmi.com/caselaws?id=10341 The High Court ruled in favor of the Revenue, denying the applicant's exemption claim under section 54(1) of the Income-tax Act. The court emphasized the requirement for ownership unity between the residential house and the land appurtenant for the exemption to apply. Since the land sold and the house did not belong to the same person, the exemption was deemed unavailable. The court's decision clarified the conditions for claiming exemptions and highlighted the significance of ownership unity in such cases. en-us Thu, 03 Feb 2005 00:00:00 +0530 Tue, 14 Jul 2009 08:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10341 The High Court ruled in favor of the Revenue, denying the applicant's exemption claim under section 54(1) of the Income-tax Act. The court emphasized the requirement for ownership unity between the residential house and the land appurtenant for the exemption to apply. Since the land sold and the house did not belong to the same person, the exemption was deemed unavailable. The court's decision clarified the conditions for claiming exemptions and highlighted the significance of ownership unity in such cases. Case-Laws Income Tax Thu, 03 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10341