Mere Expense on Electricity & Water bills won’t convert Status of Plot of Land into Residential Property

Shri Shailesh Kumar Chaturvedi Vs ITO (ITAT Jaipur) The issue under consideration is whether the expense on electricity and water bill will convert the status of plot of land into residential property and accordingly assessee will be eligible for deduction u/s 54? In the present case, AO in the assessment order held that the assessee had only sold plot of land and no residential house construction was there on the said land and hence he disallowed the claim about cost of construction as well as the deduction claimed u/s 54 of the Income Tax Act, 1961. But the assessee states that a house was c...