ITAT Allows Civil, Plumbing & Electrical Costs as Acquisition Cost; Disallows Unrelated Travel Expenses

Vijay Lakhmichand Israni Vs ITO (ITAT Bangalore) These appeals were filed by the assessees against assessment orders passed under Sections 143(3) read with 144C(13) of the Income Tax Act for the assessment year 2022-23. Since both appeals involved common issues and amounts, the Tribunal disposed of them through a single consolidated order. The assessee, a senior citizen non-resident earning income from house property, capital gains and other sources, filed the return declaring total income of ₹35,67,355 for AY 2022-23. The case was selected for scrutiny, and notices under Sections 143(2) and...