https://www.taxtmi.com/caselaws?id=358327 The Tribunal dismissed the Revenue's appeal, upholding the First Appellate Authority's decision to allow the assessee's claim for deduction under Section 54 of the Income Tax Act, 1961. The Tribunal determined that the basement, considered part of the residential unit, qualified for the exemption under Sections 54 and 54F, emphasizing that the term "a residential house" does not necessarily denote a singular unit. The Tribunal found no fault in the First Appellate Authority's order and affirmed it. en-us Thu, 22 Mar 2018 00:00:00 +0530 Mon, 06 Apr 2026 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358327 The Tribunal dismissed the Revenue's appeal, upholding the First Appellate Authority's decision to allow the assessee's claim for deduction under Section 54 of the Income Tax Act, 1961. The Tribunal determined that the basement, considered part of the residential unit, qualified for the exemption under Sections 54 and 54F, emphasizing that the term "a residential house" does not necessarily denote a singular unit. The Tribunal found no fault in the First Appellate Authority's order and affirmed it. Case-Laws Income Tax Thu, 22 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358327