ITAT has upholds revision proceedings, affirming that the cost of improvement should not to be attributed to joint owners
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has upholds revision proceedings, affirming that the cost of improvement should not to be attributed to joint owners. The assessee, holding a joint interest, had divested itself of a specific piece of land along with a factory building and associated machinery. The land was owned…
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