ITAT Allows Section 54 Exemption for Interior Decoration Expenses

Sapna Hemanshu Shah Vs DCIT (ITAT Bangalore) The case concerns an appeal filed by Smt. Sapna Hemanshu Shah before the Income Tax Appellate Tribunal (ITAT), Bangalore, against the order of the National Faceless Appeal Centre (NFAC), New Delhi, dated 26 October 2023, relating to the assessment year 2013–14. The dispute focused solely on the disallowance of exemption under Section 54 of the Income Tax Act, 1961, concerning expenditure incurred on the interior decoration of a newly acquired residential house property. Background of the Case The assessee filed her return of income on 22 July 2...