https://www.taxtmi.com/caselaws?id=765050 ITAT remanded the case to AO for fresh determination of assessee's share in JDA property and Section 54 deduction eligibility. The tribunal rejected AO's 50% ownership determination based solely on Khatha records, noting that property ownership requires registered documents. The tribunal directed AO to verify actual ownership through partition deed and examine whether assessee's father and sister sold their respective shares separately. Regarding Section 54 deduction, ITAT instructed AO to verify if construction commenced within prescribed three-year period, clarifying that completion beyond three years doesn't disqualify the deduction if commencement was timely. Appeal allowed for statistical purposes with both issues remanded for fresh adjudication. en-us Mon, 20 Jan 2025 00:00:00 +0530 Fri, 24 Jan 2025 08:44:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765050 ITAT remanded the case to AO for fresh determination of assessee's share in JDA property and Section 54 deduction eligibility. The tribunal rejected AO's 50% ownership determination based solely on Khatha records, noting that property ownership requires registered documents. The tribunal directed AO to verify actual ownership through partition deed and examine whether assessee's father and sister sold their respective shares separately. Regarding Section 54 deduction, ITAT instructed AO to verify if construction commenced within prescribed three-year period, clarifying that completion beyond three years doesn't disqualify the deduction if commencement was timely. Appeal allowed for statistical purposes with both issues remanded for fresh adjudication. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765050