2021 (5) TMI 183

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....r the A.Y 2016-17 against the order of the CIT (A)-6, Hyderabad, dated 27.05.2019. 2. Brief facts of the case are that the assessee individual, filed his return of income for the A.Y 2016-17 on 27.03.2018 admitting income of Rs. 7,14,270/-. The case was selected for scrutiny under CASS and during the assessment proceedings u/s. 143(3) of the Act, the Assessing Officer observed that the assessee....

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....- as expenditure towards additional works in the house. The Assessing Officer disallowed the same holding it to be not for making the house habitable. He, therefore, only allowed the cost of acquisition and indexed cost of acquisition and cost of the improvement to the extent of Rs. 1,59,00,100 being the assessee's share. Aggrieved, the assessee preferred an appeal before the CIT (A) who confi....

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....rred in sustaining the disallowance of Rs. 14,85,000 made by the AO. 4. The authorities below failed to appreciate that Rs. 5,00,000 of the above amount was paid to broker for purchase of new residential house and the balance amount of Rs. 9,85,000 was incurred towards repair charges to make the residential house fit for occupation. For these and other grounds that may be urged a....

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....on that the cost of acquisition is the price paid by the assessee for the purchase of the house and also the expenditure towards the repairs made by him to make the house habitable and no other expenditure is to be allowed u/s. 54 of the Act. As regards the details of the expenditure furnished in page 31 of the paper book of the assessee which are being sought as exempt by the assessee, I find tha....