https://www.taxtmi.com/caselaws?id=182638 The Tribunal allowed the appeal of the assessee for statistical purposes, directing the Assessing Officer to re-examine the issue of whether the expenditure incurred for converting a semi-finished property into a habitable one is eligible for deduction under section 54 of the Income Tax Act, 1961. The Tribunal held that such expenditure could be considered for deduction under section 54 but required further examination based on the construction agreement with the builder/developer. en-us Fri, 20 Dec 2013 00:00:00 +0530 Wed, 24 Aug 2016 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=182638 The Tribunal allowed the appeal of the assessee for statistical purposes, directing the Assessing Officer to re-examine the issue of whether the expenditure incurred for converting a semi-finished property into a habitable one is eligible for deduction under section 54 of the Income Tax Act, 1961. The Tribunal held that such expenditure could be considered for deduction under section 54 but required further examination based on the construction agreement with the builder/developer. Case-Laws Income Tax Fri, 20 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=182638