In the result, the appeal of the Revenue is dismissed and the appeal of the assessee is allowed for statistical purposes
Bench: Shri Rajesh Kumar, Am & Shri Pradip Kumar Choubey, Jm Acit, Circle-40 Rahul Saraf (Huf) Income Tax Office, 3, 4/1, Red Cross Place, Kolkata- Government Place (West), Vs. 700001, West Bengal Kolkata-700001, West Bengal (Appellant) (Respondent) Pan No. Aadhr2300F Dcit, 5Th Floor, Room No.516, Rahul Saraf Aaykar Bhavan Poorva, 33, Hungerford Street, Kolkata- Vs. 700017, West Bengal 110, Shantipally, Kolkata-700107 West Bengal (Appellant) (Respondent) Pan No. Akops6728D Assessee By : Shri Somitra Choudhury & Shri Pranabash Sarkar, Ars Revenue By : Shri Raja Sengupta, Dr Date Of Hearing: 10.12.2024 Date Of Pronouncement : 16.12.2024
section 143(3) of the Act on 28.08.2014. 08. In the appellate proceedings, the ld. CIT (A) partly allowed the appeal of the assessee by directing the ld. AO to allow the deduction u/s 54 of the Act as the assessee had already constructed the residential house on the said land over a period of time and the expenses incurred