https://www.taxtmi.com/caselaws?id=326984 The ITAT allowed the assessee's appeal, reversing the CIT(A)'s decision on both issues. The deduction claimed under section 54 of the Income Tax Act, 1961 for A.Y. 2008-09 was permitted for two flats in the same building. Additionally, the disallowance of the indexed cost of improvement was overturned as the burden to verify expenses was shifted to the revenue, and the investment exceeded the capital gain. en-us Fri, 18 Mar 2016 00:00:00 +0530 Fri, 29 Apr 2016 11:27:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326984 The ITAT allowed the assessee's appeal, reversing the CIT(A)'s decision on both issues. The deduction claimed under section 54 of the Income Tax Act, 1961 for A.Y. 2008-09 was permitted for two flats in the same building. Additionally, the disallowance of the indexed cost of improvement was overturned as the burden to verify expenses was shifted to the revenue, and the investment exceeded the capital gain. Case-Laws Income Tax Fri, 18 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326984