https://www.taxtmi.com/caselaws?id=191644 The Tribunal ruled in favor of the assessee on all grounds, allowing the deduction for both residential flats under section 54 of the Income-tax Act. The discrepancy in the cost of construction for set off against long term capital gain became irrelevant following the decision on the treatment of both flats. The Tribunal directed the AO to allow the deduction of expenses against rent received for alternative accommodation, and the taxability of cash compensation for alternative accommodation was not explicitly addressed in the judgment. The appeal was allowed, and adjustments were directed in favor of the assessee. en-us Wed, 23 Dec 2015 00:00:00 +0530 Tue, 11 Apr 2017 10:38:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191644 The Tribunal ruled in favor of the assessee on all grounds, allowing the deduction for both residential flats under section 54 of the Income-tax Act. The discrepancy in the cost of construction for set off against long term capital gain became irrelevant following the decision on the treatment of both flats. The Tribunal directed the AO to allow the deduction of expenses against rent received for alternative accommodation, and the taxability of cash compensation for alternative accommodation was not explicitly addressed in the judgment. The appeal was allowed, and adjustments were directed in favor of the assessee. Case-Laws Income Tax Wed, 23 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191644