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2013 (12) TMI 1584 - ITAT HYDERABADDeduction under section 54F - Held that:- In the present case, the assessee is said to have incurred expenditure in the form of modular kitchen, TV, show case, bath room fittings and POP work. In our opinion, if these expenditure have been incurred for the purpose of remodeling of flat in normal course after purchasing the readymade flat, it is allowable expenditure. However, if it is for beautifying the flat by removing the previous one, it cannot be considered for deduction under section 54F. We, therefore, remit the issue to the file of the Assessing Officer to examine this issue with reference to the agreement entered by the assessee with the builder/developer (construction agreement) thereafter decide whether the developer has provided these things or not and decide the issue in accordance with law. Accordingly, this issue is remitted to the file of the Assessing Officer for fresh consideration.
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