S.54 exemption not available on House not having basis amenities

HIGH COURT OF PUNJAB AND HARYANA Ashok Syal v/s. Commissioner of Income-tax IT APPEAL NO. 566 OF 2005 Date of pronouncement- 4th May 2012 ORDER Ajay Kumar Mittal, J. This appeal has been preferred by the assessee under Section 260A of the Income Tax Act, 1961 (in short, “the Act”) against the order dated 10.5.2005, Annexure A.5 passed by the Income Tax Appellate Tribunal, Amritsar (for brevity, “the ITAT”) in ITA No. 395 of 2000. It was admitted on 13.11.2006 for determining following substantial questions of law:- “(i)  Whether in the facts and...