https://www.taxtmi.com/caselaws?id=456786 The ITAT Chennai allowed the assessee's appeal regarding denial of deduction under section 54F for LTCG. The assessee constructed an independent dwelling unit on the first floor of an existing house with separate water connection, sewage connection, kitchen, and electricity meters. The tribunal held that construction of an independent dwelling unit with separate amenities constitutes construction of a new residential house, not merely an extension. The AO was directed to allow the section 54F deduction claimed by the assessee. en-us Mon, 18 Jun 2018 00:00:00 +0530 Wed, 14 Aug 2024 15:57:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456786 The ITAT Chennai allowed the assessee's appeal regarding denial of deduction under section 54F for LTCG. The assessee constructed an independent dwelling unit on the first floor of an existing house with separate water connection, sewage connection, kitchen, and electricity meters. The tribunal held that construction of an independent dwelling unit with separate amenities constitutes construction of a new residential house, not merely an extension. The AO was directed to allow the section 54F deduction claimed by the assessee. Case-Laws Income Tax Mon, 18 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456786