https://www.taxtmi.com/caselaws?id=468606 For assessment years before the Finance Act, 2014 amendment effective from 01.04.2015, the expression "a residential house" in section 54F of the Income-tax Act, 1961 was construed to include multiple residential units. Accordingly, exemption could not be denied merely because the assessee's capital gains were invested in constructing a residential building with more than one unit. The Tribunal held that the pre-amendment provision covered such investment and that the denial of exemption was unsustainable. The assessee was therefore entitled to the section 54F exemption. en-us Thu, 06 Feb 2025 00:00:00 +0530 Thu, 14 May 2026 19:45:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468606 For assessment years before the Finance Act, 2014 amendment effective from 01.04.2015, the expression "a residential house" in section 54F of the Income-tax Act, 1961 was construed to include multiple residential units. Accordingly, exemption could not be denied merely because the assessee's capital gains were invested in constructing a residential building with more than one unit. The Tribunal held that the pre-amendment provision covered such investment and that the denial of exemption was unsustainable. The assessee was therefore entitled to the section 54F exemption. Case-Laws Income Tax Thu, 06 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468606