https://www.taxtmi.com/caselaws?id=433688 The ITAT partially allowed the appeals for the assessment years, directing the AO to verify the expenditure nature while granting the deductions accordingly. The claimed expenditure for land improvement was allowed as the details were provided, and the AO was instructed to permit the claimed amounts. Regarding the eligibility for deduction u/s.54F for residential property purchase, the ITAT allowed the deduction for the portion used as a residence, based on the area used, and directed the AO to grant the deduction for the residential portion. The issue of verifying the expenditure nature was remanded to the AO for both assessment years. en-us Mon, 30 Jan 2023 00:00:00 +0530 Tue, 07 Feb 2023 10:08:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433688 The ITAT partially allowed the appeals for the assessment years, directing the AO to verify the expenditure nature while granting the deductions accordingly. The claimed expenditure for land improvement was allowed as the details were provided, and the AO was instructed to permit the claimed amounts. Regarding the eligibility for deduction u/s.54F for residential property purchase, the ITAT allowed the deduction for the portion used as a residence, based on the area used, and directed the AO to grant the deduction for the residential portion. The issue of verifying the expenditure nature was remanded to the AO for both assessment years. Case-Laws Income Tax Mon, 30 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433688