Sale Deed Not Final Word: ITAT Accepts Higher Actual Purchase Cost and Restores Full Indexation Benefit

Jagjeeth Singh Sethi Vs ITO (ITAT Bangalore) Sale Deed Not Final Word: ITAT Accepts Higher Actual Purchase Cost and Restores Full Indexation Benefit Actual Cost, Not Sale Deed Value, Determines Capital Gains: Bangalore ITAT Grants Full Relief he Bangalore ITAT held that for computing capital gains, the actual cost of acquisition paid by the assessee must prevail over the lower value mentioned in the sale deed, provided the assessee is able to substantiate the higher payment with credible evidence. In this case, the assessee had purchased a plot from the Telecom Employees’ Co-operative Housin...