Assessee had sold a residential property and earned capital gain. He claimed exemption under section 54 on ground that he had constructed a residential house within a period of three years.\u00a0 Assessing Officer on basis of inspection report observed that assessee had not constructed a residential house but purchased vacant agricultural land and constructed a makeshift structure on said land.\u00a0 He\u00a0 held that said structure had been raised with a view to evade tax liability.\u00a0 Accordingly denied the deduction.\u00a0 CIT(A) affirmed the order of the AO. On appeal the Tribunal\u00a0 held that none of basic amenities like boundary wall, kitchen, washroom, bedroom, electricity connection or water connection were available at residential house of assessee. Accordingly the order of the\u00a0 AO is affirmed. On appeal the Court held that from perusal of inspector\u2019s report, it was noted that a makeshift guardroom made of plywood of 7 feet x 6 feet and a similar room of plywood of 16 feet x 12 feet with a toilet attached was found at said site\u00a0 putting together a structure of plywood sheets could not be construed as constructing a residential house, order of Tribunal is affirmed.AY. 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 54 : Capital gains-Profit on sale of property used for residence-Construction of house-Putting together a structure of plywood sheets could not be construed as constructing a residential house-Not entitle to exemption. [S.45, 260A] <\/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-54809","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eg1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54809","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=54809"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54809\/revisions"}],"predecessor-version":[{"id":56794,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54809\/revisions\/56794"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}