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HC upholds tax deduction for house with multiple floors
The New Indian Express Kannur
|May 15, 2025
The Delhi High Court has ruled that owning multiple floors or portions of a residential property doesn't disqualify an assessee from claiming deductions under Section 54F of the Income Tax Act.
The decision by a bench of Justices Vibhu Bakhru and Tejas Karia clarifies that such ownership constitutes "one residential house," reinforcing precedents on capital gains exemptions.
This story is from the May 15, 2025 edition of The New Indian Express Kannur.
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