Assessee sold flat and claimed deduction of certain amount as index cost of improvement.\u00a0 Assessing Officer held\u00a0 that bills for cost of improvement were in name of\u00a0 Wings Travel Management India Pvt Ltd\u00a0 hence\u00a0 disallowed cost of improvement. CIT(A) also affirmed the disallowance. On appeal the Tribunal held that\u00a0 to claim cost of improvement, assessee had to establish that he had incurred expenditure for improvement of immovable asset. Since assessee had failed to file necessary documentary evidence for claiming cost of improvement and Assessing Officer had already allowed assessee’s partial claim of cost of improvement to extent of bills which were in name of assessee, disallowance of cost of improvement was to be upheld. (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 48 : Capital gains-Mode of Computation-Long term capital gains-Indexation-Cost of improvement-Failure to file necessary documents-Disallowance is affirmed.[S. 45] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-47902","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-csC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=47902"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47902\/revisions"}],"predecessor-version":[{"id":47903,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47902\/revisions\/47903"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=47902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=47902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=47902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}