https://www.taxtmi.com/caselaws?id=56670 The ITAT ruled in favor of the assessee, allowing the appeal and granting the exemption claimed under section 54 of the Income-tax Act. The ITAT interpreted 'mainly' as 'more than half' and determined that the ground floor portion used by the assessee exceeded half of the property, including additional areas. As a result, the property was considered mainly used for residential purposes, entitling the assessee to the exemption. The ITAT did not address the alternative submission regarding the pro rata assessment of capital gains for the occupied and rented portions of the property. en-us Tue, 13 Mar 1984 00:00:00 +0530 Mon, 06 Dec 2010 12:09:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56670 The ITAT ruled in favor of the assessee, allowing the appeal and granting the exemption claimed under section 54 of the Income-tax Act. The ITAT interpreted 'mainly' as 'more than half' and determined that the ground floor portion used by the assessee exceeded half of the property, including additional areas. As a result, the property was considered mainly used for residential purposes, entitling the assessee to the exemption. The ITAT did not address the alternative submission regarding the pro rata assessment of capital gains for the occupied and rented portions of the property. Case-Laws Income Tax Tue, 13 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56670