https://www.taxtmi.com/caselaws?id=352729 The ITAT Jaipur dismissed the appeal, upholding the decisions on the validity of the order passed under sections 147/144, disallowance of a portion of the cost of acquisition, and denial of benefit under section 54 for the purchase of a second house. The CIT(A) disallowed the further deduction for the second house purchase, citing that section 54 exemption applies only for one new house property. Legal precedents and judicial decisions supported this view, leading to the dismissal of the appellant's claim for the second house purchase. en-us Tue, 12 Dec 2017 00:00:00 +0530 Wed, 20 Dec 2017 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352729 The ITAT Jaipur dismissed the appeal, upholding the decisions on the validity of the order passed under sections 147/144, disallowance of a portion of the cost of acquisition, and denial of benefit under section 54 for the purchase of a second house. The CIT(A) disallowed the further deduction for the second house purchase, citing that section 54 exemption applies only for one new house property. Legal precedents and judicial decisions supported this view, leading to the dismissal of the appellant's claim for the second house purchase. Case-Laws Income Tax Tue, 12 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352729