https://www.taxtmi.com/caselaws?id=472502 Section 54 deduction applied to capital gains from transfer of a long-term asset comprising a residential house or land appurtenant to it. A structure constructed shortly before the transfer did not preclude relief where its existence was on record and its residential character had not been specifically rejected. Treatment of the asset as an open plot was therefore insufficient to deny the deduction, and the disallowance was deleted. en-us Mon, 21 Apr 2025 00:00:00 +0530 Wed, 14 Oct 2026 13:28:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472502 Section 54 deduction applied to capital gains from transfer of a long-term asset comprising a residential house or land appurtenant to it. A structure constructed shortly before the transfer did not preclude relief where its existence was on record and its residential character had not been specifically rejected. Treatment of the asset as an open plot was therefore insufficient to deny the deduction, and the disallowance was deleted. Case-Laws Income Tax Mon, 21 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472502