https://www.taxtmi.com/caselaws?id=376781 The Tribunal restored the issue of disallowance of deduction for the cost of improvement to the Assessing Officer for fresh adjudication, emphasizing the burden of proof on the assessee to substantiate the claim beyond a photograph. Regarding the disallowance of deduction under section 54, the Tribunal allowed the deduction, ruling that the investment in new flats within the stipulated time frame entitled the assessee to the deduction, irrespective of the source of funds and the purchase of two flats. The appeal was partly allowed in favor of the assessee, interpreting the Income Tax Act provisions to determine eligibility for deductions. en-us Fri, 08 Mar 2019 00:00:00 +0530 Fri, 15 Mar 2019 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376781 The Tribunal restored the issue of disallowance of deduction for the cost of improvement to the Assessing Officer for fresh adjudication, emphasizing the burden of proof on the assessee to substantiate the claim beyond a photograph. Regarding the disallowance of deduction under section 54, the Tribunal allowed the deduction, ruling that the investment in new flats within the stipulated time frame entitled the assessee to the deduction, irrespective of the source of funds and the purchase of two flats. The appeal was partly allowed in favor of the assessee, interpreting the Income Tax Act provisions to determine eligibility for deductions. Case-Laws Income Tax Fri, 08 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376781