Disallowance of Cost of Improvement Claim of Rs.18 lakh: ITAT Grants One more Opportunity to Substantiate Claim with Documentary Evidence [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) remanded the case to the Assessing Officer, directing the assessee to substantiate the claim of Rs.18,20,472 towards cost of improvement with documentary evidence, in the interest of justice.
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has remanded with one more opportunity in a case involving the disallowance of claim towards the cost of improvement in computing Long Term Capital Gains for fresh adjudication to substantiate with documentary evidence. Vasagar, (assessee) an individual filed a return of income for the Assessment…
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