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TMI Blog2013 (12) TMI 1584X X X X Extracts X X X X X X X X Extracts X X X X ..... ty into a habitable one for his living is not covered u/s. 54 is erroneous in law, contrary to facts, probabilities of the case and against the principles of equity and natural justice. 2. The CIT(A) further erred in law by stating that the expenditure incurred was not to make house habitable instead shows the living standards ignoring the fact that the property was purchased in a semi finished stage and further ignoring that the appellant disclosed taxable income of Rs. 14,83,403/- which shows his reasonable standard of living is against the provisions of law. 3. The CIT(A) without going into the facts of the case and stating that such expenditure does not come under the purview of sec. 54 is mere with surmises, conjucture ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at assessee has incurred the following expenditure on which the assessee has claimed deduction under section 54. 1. Kitchen modular, Memoriam shutters, S S Baskets, hardened glass of Rs. 3,30,000/-. 2. Hall TV, showcase box type, plywood, teakwood, veneer finish, labour of Rs. 1,75,000/-. 3. Master bedroom, Children bedroom, second children bedroom, guest bedroom - cupboard box type, veneer finish, hardware, labour of Rs. 6,94,000/-. 4. Outside POP, sheets, wood frames, ceiling of Rs. 93,000/-. 5. POP works for four bedrooms, hall, kitchen, drawing, pooja room, as per design light cutting of Rs. 1,80,000/-. 6. Bathroom shower of Rs. 1,95,000/- (each Rs. 65,000). 4. According to the CIT(A), this expenditure are not necessary for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... integral part of the qualifying investment under section 54. 8. We have carefully gone through the Orders of the Tribunal. We find that there is no dispute regarding proposition laid down by this Tribunal in the case of Shri Srinivasa R. Desai (supra). First of all, in order to allow deduction under section 54 on the expenditure incurred by the assessee, it should be relate to the new "house property" purchased by the assessee and if the assessee purchased the house in a semi-finished stage and incurred any expenditure for making house habitual then such expenditure incurred in relation to construction of the noncompleted flat in order to reside is to be considered for deduction under section 54F of the I.T. Act, 1961. In the present case, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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