https://www.taxtmi.com/caselaws?id=772114 ITAT Mumbai allowed assessee's claim for exemption under sections 54 and 54F for purchase of multiple flats in the same building. The tribunal held that "a residential house" should be interpreted liberally to include multiple residential units in one building, following D. Ananda Basappa precedent. The court emphasized that beneficial provisions must be construed liberally in favor of assessee. The claim for indexed cost of improvement was left un-adjudicated as it had no practical consequence since total capital gains were already exempted. en-us Fri, 23 May 2025 00:00:00 +0530 Mon, 03 Aug 2026 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772114 ITAT Mumbai allowed assessee's claim for exemption under sections 54 and 54F for purchase of multiple flats in the same building. The tribunal held that "a residential house" should be interpreted liberally to include multiple residential units in one building, following D. Ananda Basappa precedent. The court emphasized that beneficial provisions must be construed liberally in favor of assessee. The claim for indexed cost of improvement was left un-adjudicated as it had no practical consequence since total capital gains were already exempted. Case-Laws Income Tax Fri, 23 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772114