Adnan Siddiqui Comments on High Court’s Ruling on Tax Exemption for Multiple Flats

The recent High Court ruling denying a widow’s tax exemption claim for purchasing two separate flats has sparked discussions on capital gains exemptions under the Income Tax Act.

Adnan Siddiqui highlighted the importance of structuring property investments correctly to avoid legal disputes. He stated, “To avoid such tax disputes, taxpayers should invest in one residential property or, if buying multiple units, ensure they are physically and legally integrated into a single dwelling. Courts have previously granted exemptions when two adjacent flats functioned as a single house, but in this case, the separation made that argument untenable.”

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