This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Construction Cost Disallowance in Capital Gains Set Aside; AO to Examine Valuation Report
Case Law Details
- Case Name
- Manjunatha Narayanaswamy Manchanayakanahalli Vs Deputy/ACIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Bangalore
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Manjunatha Narayanaswamy Manchanayakanahalli Vs Deputy/ACIT (ITAT Bangalore)
Construction Cost Cannot Be Disallowed Entirely While Computing Capital Gains – Matter Remanded to AO to Examine Valuation Report
The assessee sold a property consisting of land with a constructed residential building and claimed deduction of construction cost while computing capital gains. The AO rejected the claim on the ground that the assessee had not produced documentary evidence such as bills or vouchers to substantiate the construction expenses. The CIT(A) also confirmed the disallowance of the constructi...
Author Info
