ITAT Nagpur Allows 80% Indexed Cost of Improvement on Estimation Considering Construction Evidence & Assessee’s Death

Late Sharad Shankar Kale Vs ITO (ITAT Nagpur) Indexed Cost of Improvement Partly Allowed on Estimation – Tribunal Grants 80% Relief Considering Construction Evidence Death of Assessee – ITAT Nagpur The AO denied deduction of indexed cost of improvement while computing capital gains on sale of immovable property due to lack of documentary proof. Assessee contended that a triple-storeyed residential building existed on the property and reasonable improvement cost had been incurred. ITAT noted that though supporting bills were not available, the registered sale agreement clearly reflected con...