https://www.taxtmi.com/highlights?id=65247 Deduction u/s 54F - Denial of deduction as building was constructed for commercial purposes - It is clear that even before the building was let out on lease, the structural changes were made to make it suitable for running a hostel. As we held in the preceding paragraphs that the need to have such a huge building for a single dwelling unit is not established, and at the same time the demarcation for multi-dwelling units is not possible in the structure of the building. - the assessee constructed the building for commercial purposes only. The findings of fact recorded by the authorities below do not warrant any interference and we accordingly uphold the same. - AT en-us Wed, 24 Aug 2022 08:48:27 +0530 Wed, 24 Aug 2022 08:48:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=65247 Deduction u/s 54F - Denial of deduction as building was constructed for commercial purposes - It is clear that even before the building was let out on lease, the structural changes were made to make it suitable for running a hostel. As we held in the preceding paragraphs that the need to have such a huge building for a single dwelling unit is not established, and at the same time the demarcation for multi-dwelling units is not possible in the structure of the building. - the assessee constructed the building for commercial purposes only. The findings of fact recorded by the authorities below do not warrant any interference and we accordingly uphold the same. - AT Highlights Income Tax Wed, 24 Aug 2022 08:48:27 +0530 https://www.taxtmi.com/highlights?id=65247