ITAT Cochin Allows Section 54F Deduction for Essential Plumbing, Excludes Luxury Interiors

Kundoly Krishnakutty Sunil Vs ITO (ITAT Cochin) Cochin ITAT Partly Allows 54F Claim – Only Essential Plumbing Accepted as Habitable Expense- Luxury Interiors Like Modular Kitchen Not Eligible u/s 54F, Rules Tribunal Assessee filed return declaring income of ₹50,85,060. AO completed scrutiny assessment u/s 143(3) on 10.12.2018 restricting deduction u/s 54F to ₹2,03,79,316 as against ₹2,24,25,368 claimed, & restricting deduction u/s 80C to ₹70,462 as against ₹1,50,000 claimed. The claim u/s 54F included ₹26,94,260 towards post-purchase works such as interiors, modular kitchen, ...