Cost of improvement & indexation cannot be claimed without evidence to prove construction

Vasamsetty Veera Venkata Satyanarayana Vs ITO (ITAT Hyderabad) Conclusion: Assessees could not claim cost of improvement and indexation cost as assessee had to furnish some evidence and in the absence of any evidence or information, the information contained in the registered sale deed was required to be accepted. Held: Assessee was an individual and derived income from business, long term capital gain and from other sources. Assessee had filed his return of income for the AY 2016-17 on 24.03.2018 declaring income of Rs. 8,26,153/-. A search and seizure operation u/s.132 was conducted on the a...