Litigation & electricity charges allowable in Capital Gain Calculation if for improvement of the property

CA Sandeep Kanoi ITAT Delhi has held in the case of Smiti Golyan Vs. ITO that As per provisions of sec. 48 of the I.T. Act in case of acquisition of the property by way of gift or inheritance the cost of acquisition of the property will be the same as in the hands of the original owner/ transferor/donor. The cost of acquisition includes the cost of improvement of the property which includes the cost incurred on defending or improving the title. Thus in the hands of Smt. Beena Devi the cost of acquisition will include the original cost as well as the cost of litigation and payment of outstandin...