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TMI Blog2022 (4) TMI 1020X X X X Extracts X X X X X X X X Extracts X X X X ..... he stipulated time as framed by the provision of law and particularly when such expenditure has not been doubted by the authorities below respectfully relying upon the ratio laid down by the Coordinate Bench as narrated hereinabove the assessee is found to be entitled to the exemption as the expenditure incurred. The order of addition made by the authorities below is, thus, found to be devoid of any merit and, thus, deleted. Assessee s appeal is, therefore, allowed. - I.T.A. No. 261/Ahd/2019 - - - Dated:- 20-4-2022 - Shri Waseem Ahmed, Accountant Member And Ms. Madhumita Roy, Judicial Member For the Assessee : Shri Chirag Shah, AR For the Revenue : Shri R. R. Makwana, Sr. DR ORDER PER Ms. MADHUMITA ROY - JM: Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otment deed the consideration of the flat is ₹ 48,50,000/- the assessee has claimed to have incurred expenses of ₹ 12,00,000/- for extra work and ₹ 2,50,000/- for AEC, Auda charges and legal fees. The case of the assessee is this that in order to make the house inhabitable the assessee had incurred ₹ 12,00,000/-. It was further submitted by the assessee that the extra work was undertaken by Prabhuvan Buildcon, the developer of Prabhuvan Flats. The payment of the said expenses has been made through banking channel by cheque No. 25000003 dated 24.12.2014. The documents relevant thereto were duly submitted before the AO by the assessee. In that view of the matter the assessee is entitled to get the relief under Section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uch construction. Since the construction of the house was completed within the specified period under Section 54 of the Act the assessee was found to be eligible for deduction under Section 54 as observed by the Hon ble Bench. We have further considered the judgement passed by the Coordinate Bench in the matter of Shriniwas R. Desai vs. ACIT(OSD) in ITA No. 1245 and 2432/Ahd/2010 wherein it was held that there is no restriction on the buyer from incurring any construction expenditure on improvisation or supplementary work of ready-made unit. The additional expenses so incurred would be eligible for qualifying investment under Section 54 of the Act. 5. Taking into consideration the entire aspect of the matter particularly when the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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