No income tax for son who sold late mother’s flat for Rs 1.45 crore to buy seven houses; how a minor language error helped him

The Bombay High Court ruled that a son was not required to pay income tax on the sale of his late mother's Mumbai flat, even after purchasing seven houses in Pune with the proceeds. This decision hinged on Section 54 of the Income Tax Act, prior to its 2014 amendment, which used the term 'a residential house'.