https://www.taxtmi.com/caselaws?id=418269 The Tribunal allowed the appeal filed by the assessee, granting the benefit of deduction under Section 54 of the Income Tax Act for the sale of a residential house property with land appurtenant thereto. The Tribunal also directed the Assessing Officer to verify the calculations for the indexed cost of acquisition and allowed the cost of making the house habitable, excluding certain luxury items. As a result, the appeal filed by the Revenue was dismissed as infructuous. en-us Tue, 08 Feb 2022 00:00:00 +0530 Sat, 12 Feb 2022 21:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418269 The Tribunal allowed the appeal filed by the assessee, granting the benefit of deduction under Section 54 of the Income Tax Act for the sale of a residential house property with land appurtenant thereto. The Tribunal also directed the Assessing Officer to verify the calculations for the indexed cost of acquisition and allowed the cost of making the house habitable, excluding certain luxury items. As a result, the appeal filed by the Revenue was dismissed as infructuous. Case-Laws Income Tax Tue, 08 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418269