https://www.taxtmi.com/caselaws?id=421354 The Tribunal allowed the assessee's appeal, ruling in favor of the exemption claim under Section 54 of the Income Tax Act. The Tribunal held that expenses incurred for making the new property habitable were genuine and allowable under Section 54, citing relevant legal precedents. The completion of construction within the specified period and additional expenses for construction were considered qualifying investments for the deduction. The Tribunal deemed the authorities' addition of the expenses as meritless and granted the assessee the exemption for the incurred expenses. en-us Wed, 20 Apr 2022 00:00:00 +0530 Fri, 22 Apr 2022 08:27:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421354 The Tribunal allowed the assessee's appeal, ruling in favor of the exemption claim under Section 54 of the Income Tax Act. The Tribunal held that expenses incurred for making the new property habitable were genuine and allowable under Section 54, citing relevant legal precedents. The completion of construction within the specified period and additional expenses for construction were considered qualifying investments for the deduction. The Tribunal deemed the authorities' addition of the expenses as meritless and granted the assessee the exemption for the incurred expenses. Case-Laws Income Tax Wed, 20 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421354