Cost of acquisition/improvement not allowable in absence of corroborative evidences

Janardhan Gupta Vs DCIT (ITAT Delhi)

ITAT find that as emanating from the facts narrated above, the revenue authorities have disallowed the assessee’s claim of cost of purchase and cost of improvement de hors any corroborative evidences. In our considered opinion, there is no infirmity in the orders of the authorities below as onus is upon the assessee to cogently prove the cost of acquisition and cost of improvement. Since, the assessee has miserably failed in this case to produce necessary evidence; therefore, the authorities below are corr

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