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ITAT disallows cost of improvement incurred by Company for individual’s flat
Case Law Details
- Case Name
- Arun Tulshidas Kharat Vs DCIT (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2014-15
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Arun Tulshidas Kharat Vs DCIT (ITAT Pune)
The Income Tax Appellate Tribunal (ITAT) Pune has made a significant ruling in the case of Arun Tulshidas Kharat Vs DCIT, disallowing the claim of cost of improvement incurred by a company for an individual’s flat. This decision, dated 14th June 2023, underlines the stringent scrutiny applied by tax authorities on claims related to capital gains and the necessity for taxpayers to maintain precise and verifiable records.
Detailed Analysis
The appellant, Arun Tulshidas Kharat, challenged the decision of the Commissioner of Income Tax (Appeals) [NFAC], ...
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