Maintenance & Electricity Charges not in the form of Deposits excluded from Cost of Property for computing LTCG: ITAT [Read Order]

Maintenance and Electricity Charges - Deposits - Cost of Property for computing LTCG - Cost of Property - LTCG - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Cuttack Bench has held that the revenue expenditures incurred by the assessee such as maintenance and electricity charges which are not in the form of any deposit shall be excluded from the cost of property for the purpose of computation of Long Term Capital Gain (LTCG). The appeal was…

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