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2017 (8) TMI 480 - AT - Income TaxDeduction u/s 54F - satisfaction of relevant conditions - owning more than one house - another house was under construction - Held that:- What is relevant is whether the assessee satisfies the conditions of section 54F of the Act in the year under consideration. Before us, the Ld. senior DR could not controvert findings of the Ld. CIT-(A). In view of the facts and circumstances of the case, we are of the view that the assessee is entitled for deduction under section 54F of the Act because house property at 9, Mehandi Farms was under construction during the year under consideration and it cannot be said as another residential house owned by the assessee. As the assessee owned only one residential house at D-3/8 Vasant Vihar, New Delhi, the assessee is entitled for deduction under section 54F Act for investment in construction of the house property at 9, Mehandi Farms. - Decided in favour of assessee. Disallowance of vehicle running and maintenance expenses - allowable business expenditure - Held that:- Assessing Officer has failed to bring on record any documentary evidence to establish that business promotion expenses were utilised for personal purpose. Similarly regarding for disallowance out of vehicle running and maintenance expenses, the only basis adopted by the Assessing Officer, is status of the assessee and no other cogent material has been brought on record for disallowing the expenses. In our opinion, the finding of the Ld. CIT-(A) on the issue in dispute is well reasoned and no further interference is required in said finding.- Decided in favour of assessee.
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