https://www.taxtmi.com/caselaws?id=177372 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's claim for deduction under Section 54 of the Income Tax Act. It held that the investments made in the construction of a residential house were eligible for deduction, emphasizing that the completion date of construction and the period of investment were crucial factors. The Tribunal approved deductions for essential expenditures to make the house habitable while disallowing those for decorative purposes. The Revenue's appeals were dismissed, affirming the eligibility of the assessee for the deduction under Section 54. en-us Wed, 28 Jan 2015 00:00:00 +0530 Fri, 08 Jan 2016 10:05:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177372 The Tribunal upheld the CIT(A)'s decision, allowing the assessee's claim for deduction under Section 54 of the Income Tax Act. It held that the investments made in the construction of a residential house were eligible for deduction, emphasizing that the completion date of construction and the period of investment were crucial factors. The Tribunal approved deductions for essential expenditures to make the house habitable while disallowing those for decorative purposes. The Revenue's appeals were dismissed, affirming the eligibility of the assessee for the deduction under Section 54. Case-Laws Income Tax Wed, 28 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177372