Allowance on Cost of Improvement not Claimable in the Absence of Supporting Bills, Vouchers, Source Funds etc: ITAT [Read Order]

Bill - Vouchers - Source Funds - ITAT - taxscan

The Income Tax Appellate Tribunal(ITAT) “SMC” Bench, Mumbai, has recently, in an appeal filed before it by an assessee, held that allowance on the cost of improvement is not claimable in the absence of supporting bills, vouchers, source funds etc. The aforesaid observation was made by the Tribunal when an appeal was preferred before it…

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