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TMI Blog2019 (1) TMI 1470X X X X Extracts X X X X X X X X Extracts X X X X ..... st of the property - Held that:- Tribunal has recorded the facts. The assessee had pointed out that he had acquired the flat which was a bareshell which required further expenditure to make it habitual. The assessee had to undertake renovation, tiles, furnitures and fixtures had to be fitted as per the instructions of the assessee. The Tribunal thereupon concluded that the Revenue was not correct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay, 2015. 2. Following question is presented for our consideration: Whether, on the facts and in the circumstances of the case and in law, the Income Tax Appellate Tribunal was justified in treating the expenditure incurred by the assessee over and above the actual cost of the new property to make it habitable as part of acquisition cost, even if the additional expense is more than that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l rejected the Revenue's appeal referring to and relying upon several earlier decisions of the Tribunal and holding that the expenditure was for the purpose of making the residential unit habitable. In the process the Tribunal also confirmed the view of the CIT appeals that to the extent of ₹ 23,28,562/which was expenditure incurred by the assessee for purchase of various luxury goods, s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 016 passed in Income Tax Appeal No.708 of 2014 had rejected the Revenue's appeal confirming the decision of the Tribunal granting benefit of additional expenditure incurred by the assessee in making the purchased residential unit into habitable. 7. Eventually, the entire issue is based on facts. The Tribunal has assessed the facts on record and accepted the assessee's claim that the e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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