Assessee incurred certain sum to bring new house in habitable condition, it also claimed deduction for said expenditure. Assessing Officer denied assessee\u2019s claim on ground that capital expenditure so made by assessee would not be includible in cost of new property. CIT(A) affirmed the order of the AO on the\u00a0 ground that the expenditure as renovation expenditure hence not allowable as deduction. On appeal the Tribunal held that\u00a0 the expenditure incurred for\u00a0 proper electrification, water facilities, wood work, glass work, etc. to make new house habitable as new house was purchased by assessee in inhabitable condition hence allowable\u00a0 as deduction. Followed, Rajat\u00a0 B. Mehta\u00a0 v.ITO (ITA No.19 (Ahd) dt. 30-3-2012) \u00a0(AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 54 : Capital gains-Profit on sale of property used for residence-Cost of improvement-Expenditure incurred for habitable-Proper electrification, water facilities, wood work, glass work, etc-Allowable as deduction. [S. 45, 48] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-50552","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-d9m","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=50552"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50552\/revisions"}],"predecessor-version":[{"id":50553,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50552\/revisions\/50553"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}