Expenses on repairs to put new flat in habitable condition allowable U/s. 54

It is evident that the assessee paid the entire purchase consideration together with all the expenses. The mother and father have deposed that they have no right, title or interest in the impugned fiat and that their names have been added for various legal conveniences mentioned above. Section 45 of the Transfer of Property Act is discussed above, which gives importance to the ratio of payment made by respective owners and refers to any contract to the contrary, which may be in existence. As the facts emerge, it is implicitly clear from the conduct of the parties that there was an agreement in existence that the flat will be the property of the assessee and mother and father will have no right, title or interest therein and the purchase consideration with expenses will be borne by the assessee. Under these circumstances, we are of the view that the assessee can be treated as purchaser of the property in terms of Section 54. Our view is further fortified by the Hon’ble Supreme Court judgment in the case of Podar Cement Pvt. Ltd. cited supra for the proposition that the concept of “constructive ownership” has to be applied to income-tax proceedings. The issue before Hon’ble Supreme Court was of depreciation. Nevertheless, it lays down a general proposition of law that in income-tax proceedings the concept of “constructive ownership” can be applied considering the facts of the case. We are of the view that the facts of the present case conform to be seen from the gloss of the Hon’ble Supreme Court judgment in the case of Podar Cement Pvt. Ltd. (supra), which also helps the case of the assessee. In consideration of all the above facts, observations and case laws, we hold that the assessee is purchaser of the flat and the entire amount spent by her has to be considered towards the purchase price paid by her for the new flat entitled to be computed while allowing deduction Under Section 54.