https://www.taxtmi.com/caselaws?id=797160 Section 54F treats the cost of a new residential asset as extending beyond the purchase consideration where genuine post-purchase reconstruction, renovation, alterations and improvements are incurred to make the house suitable for residential use. The cost of land and construction may be aggregated, and the prior habitability of the purchased house or the scale of improvement expenditure does not by itself disqualify the expenditure. However, expenses for personal comfort rather than construction do not qualify. Genuine reconstruction and renovation expenditure, together with the purchase cost, is eligible for the full Section 54F deduction. en-us Mon, 10 Aug 2026 00:00:00 +0530 Tue, 18 Aug 2026 08:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797160 Section 54F treats the cost of a new residential asset as extending beyond the purchase consideration where genuine post-purchase reconstruction, renovation, alterations and improvements are incurred to make the house suitable for residential use. The cost of land and construction may be aggregated, and the prior habitability of the purchased house or the scale of improvement expenditure does not by itself disqualify the expenditure. However, expenses for personal comfort rather than construction do not qualify. Genuine reconstruction and renovation expenditure, together with the purchase cost, is eligible for the full Section 54F deduction. Case-Laws Income Tax Mon, 10 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797160