https://www.taxtmi.com/caselaws?id=332688 The Tribunal allowed the assessee's appeal, setting aside the Assessing Officer and CIT(A)'s orders. The Tribunal directed reassessment on issues concerning the valuation of house property for deduction under Sections 54 and 54F, interpretation of investment in house property under Section 27(1), and treatment of deemed dividend under Section 2(22)(e). It held that the cost of land should be included in the cost of the residential house for deduction purposes, investment disallowance should not be divided into three parts, and deemed dividend assessment should align with the Income Tax Act provisions. en-us Fri, 12 Aug 2016 00:00:00 +0530 Fri, 23 Sep 2016 12:21:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332688 The Tribunal allowed the assessee's appeal, setting aside the Assessing Officer and CIT(A)'s orders. The Tribunal directed reassessment on issues concerning the valuation of house property for deduction under Sections 54 and 54F, interpretation of investment in house property under Section 27(1), and treatment of deemed dividend under Section 2(22)(e). It held that the cost of land should be included in the cost of the residential house for deduction purposes, investment disallowance should not be divided into three parts, and deemed dividend assessment should align with the Income Tax Act provisions. Case-Laws Income Tax Fri, 12 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332688