https://www.taxtmi.com/caselaws?id=396138 The High Court held that the term "a residential house" in Section 54(1) of the Income Tax Act includes multiple residential units based on judicial precedents. The court also determined that the amendment by the Finance Act, 2014, was prospective and did not apply to the relevant assessment year. Consequently, the assessee was entitled to claim exemption under Section 54(1) for investments in two residential properties. The orders of the lower authorities were set aside, and the appeal was allowed in favor of the assessee. en-us Thu, 18 Jun 2020 00:00:00 +0530 Fri, 09 Oct 2020 16:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396138 The High Court held that the term "a residential house" in Section 54(1) of the Income Tax Act includes multiple residential units based on judicial precedents. The court also determined that the amendment by the Finance Act, 2014, was prospective and did not apply to the relevant assessment year. Consequently, the assessee was entitled to claim exemption under Section 54(1) for investments in two residential properties. The orders of the lower authorities were set aside, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Thu, 18 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396138