https://www.taxtmi.com/caselaws?id=783263 ITAT Delhi-AT held that the assessee was not entitled to exemption under ss. 54/54F. The Tribunal found that the Karol Bagh property comprised three independent residential units with separate kitchens, from which the assessee was earning rental income, thereby constituting more than one residential house on the relevant date. Consequently, the assessee failed the basic eligibility condition for ss. 54/54F at the entry level and the claim was rightly disallowed. On the issue of unexplained cash deposits, ITAT accepted the assessee's explanation that deposits were sourced from prior cash withdrawals, refundable security deposits from rental properties, and part of the joint development consideration, and therefore deleted the addition. In light of this, the ground on tax rate u/s 69A/115BBE was rendered infructuous. The appeal was partly allowed. en-us Tue, 09 Dec 2025 00:00:00 +0530 Fri, 12 Dec 2025 08:55:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783263 ITAT Delhi-AT held that the assessee was not entitled to exemption under ss. 54/54F. The Tribunal found that the Karol Bagh property comprised three independent residential units with separate kitchens, from which the assessee was earning rental income, thereby constituting more than one residential house on the relevant date. Consequently, the assessee failed the basic eligibility condition for ss. 54/54F at the entry level and the claim was rightly disallowed. On the issue of unexplained cash deposits, ITAT accepted the assessee's explanation that deposits were sourced from prior cash withdrawals, refundable security deposits from rental properties, and part of the joint development consideration, and therefore deleted the addition. In light of this, the ground on tax rate u/s 69A/115BBE was rendered infructuous. The appeal was partly allowed. Case-Laws Income Tax Tue, 09 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783263