Enhanced cost of acquisition without corroborative evidence not allowed: ITAT Surat

Jitendra Nathubhai Katargamwala Vs ITO (ITAT Surat)

ITAT Surat held that in absence of any corroborative evidence with regard to payment of amount mentioned in sauda chitti, assessee is not entitled to claim enhanced cost of acquisition and hence appeal of the assessee dismissed.

Facts- During the assessment, AO noted the assessee has shown capital gains on sale of property. AO noted that assessee has sold immovable property by showing sale consideration at Rs.4.91 crores on 30.03.2015. The assessee was having 1/6^th share of the property. As per A

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