Cost of improvement based on valuation report of registered valuer duly allowable

Kanhaiya Lal Lalwani Vs ITO (ITAT Jaipur) ITAT Jaipur held that cost of improvement cannot be rejected on the reason that building plan approval, property tax, etc. not provided as no building approval is required for construction area of 870 Sq. Fts and property tax was not leviable on the residential house property. Cost of improvement allowable as valuation report submitted. Facts- Assessee contended that CIT(A) has erred in rejecting the claim of the assessee in respect of indexed cost of improvement on Rs.3,41,000/- base don valuation report of the registered valuer being construction mad...