Section 54 exemption covers a multi-floor home acquired as one property, while unsupported land valuation rejection requires recomputation.

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....Section 54 exemption may extend to a residential property comprising multiple floors where the floors are acquired as one property through reinvestment of capital gains; separate physical structuring or potential independent use alone does not establish multiple houses. The Tribunal directed exemption for the property as a whole. For capital-gains computation, rejection of registered valuers' land valuations without identified defects or a DVO reference, while accepting the superstructure valuation, was treated as impermissible. The unrebutted valuation report and material builder's certificate were required to be considered, and capital gains were directed to be recomputed accordingly.....