https://www.taxtmi.com/caselaws?id=751307 The ITAT Mumbai held that a triplex flat purchased by the assessee qualifies as a single residential unit under section 54F for LTCG exemption purposes. Despite the AO's contention that three separate flats were purchased requiring third-party documentary evidence, the tribunal found that the interconnected units with common living area, kitchen, and rooms constitute one residential house. The agreement and floor plan demonstrated the triplex nature was approved by the builder and registered accordingly. The tribunal ruled that identification of separate blocks by the builder for project completion purposes does not negate the single unit nature when modified to meet the purchaser's requirements as one interconnected residential flat. en-us Fri, 22 Mar 2024 00:00:00 +0530 Fri, 12 Apr 2024 21:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751307 The ITAT Mumbai held that a triplex flat purchased by the assessee qualifies as a single residential unit under section 54F for LTCG exemption purposes. Despite the AO's contention that three separate flats were purchased requiring third-party documentary evidence, the tribunal found that the interconnected units with common living area, kitchen, and rooms constitute one residential house. The agreement and floor plan demonstrated the triplex nature was approved by the builder and registered accordingly. The tribunal ruled that identification of separate blocks by the builder for project completion purposes does not negate the single unit nature when modified to meet the purchaser's requirements as one interconnected residential flat. Case-Laws Income Tax Fri, 22 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751307