https://www.taxtmi.com/caselaws?id=425187 The Tribunal allowed the appeal, instructing the assessing officer to include the cost of land in calculating the deduction under Section 54 of the Income Tax Act. It emphasized that the completion date of construction, not the commencement date, is pivotal for compliance with Section 54, citing relevant legal provisions and a High Court decision. The Tribunal ruled in favor of the assessee, highlighting the significance of considering both the land cost and construction completion date for deductions under Section 54. en-us Fri, 15 Jul 2022 00:00:00 +0530 Mon, 18 Jul 2022 09:16:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425187 The Tribunal allowed the appeal, instructing the assessing officer to include the cost of land in calculating the deduction under Section 54 of the Income Tax Act. It emphasized that the completion date of construction, not the commencement date, is pivotal for compliance with Section 54, citing relevant legal provisions and a High Court decision. The Tribunal ruled in favor of the assessee, highlighting the significance of considering both the land cost and construction completion date for deductions under Section 54. Case-Laws Income Tax Fri, 15 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425187