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HomeDirect TaxUnder-Construction Property Qualifies as ‘Construction’: ITAT Allows S. 54F Deduction

Under-Construction Property Qualifies as ‘Construction’: ITAT Allows S. 54F Deduction

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By Mariya Paliwala
ITAT

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The Ahmedabad Bench of the Income Tax Appellate Tribunal (ITAT) has held that investment in an under-construction residential property qualifies as “construction” for the purpose of claiming deduction under Section 54F of the Income Tax Act, 1961.  The bench DR. BRR Kumar (Vice President) and T. R. Senthil Kumar (Judicial Member) quashed the reassessment proceedings,…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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