Monday, December 10, 2018

Disallowance of indexed cost of improvement was justified if assessee failed to prove quantum of exp. incurred

IT: Where assessee, while computing long-term capital gain on sale of an immovable property, claimed deduction of indexed cost of improvement incurred by it in said property, since assessee had not submitted any documentary evidence to prove quantum of expenditure incurred on improvement, Assessing Officer was justified in disallowing claim made by assessee

from www.taxmann.com Latest Case Laws https://ift.tt/2QmuT4B

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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