https://www.taxtmi.com/caselaws?id=234525 The Tribunal upheld the denial of deduction under Section 54 of the IT Act, 1961, as the structure claimed by the assessee did not qualify as a residential house. Additionally, the Tribunal supported the rejection of the cost of improvement claimed by the assessee due to insufficient evidence. Furthermore, the addition under Section 68 was upheld as the assessee failed to prove the genuineness of the transactions and the lenders' creditworthiness. The Tribunal dismissed all appeals, emphasizing the importance of credible evidence and the burden of proof on the assessee. en-us Fri, 15 Mar 2013 00:00:00 +0530 Thu, 23 Apr 2015 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234525 The Tribunal upheld the denial of deduction under Section 54 of the IT Act, 1961, as the structure claimed by the assessee did not qualify as a residential house. Additionally, the Tribunal supported the rejection of the cost of improvement claimed by the assessee due to insufficient evidence. Furthermore, the addition under Section 68 was upheld as the assessee failed to prove the genuineness of the transactions and the lenders' creditworthiness. The Tribunal dismissed all appeals, emphasizing the importance of credible evidence and the burden of proof on the assessee. Case-Laws Income Tax Fri, 15 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234525