Enhanced cost not substantiated with cogent evidence not allowable as cost of acquisition

Bhausaheb Sopanrao Bhoir Vs DCIT (ITAT Pune)

ITAT Pune held that as enhanced cost of acquisition not substantiated with cogent evidence, the same is not allowable as cost of acquisition of transferred assets.

Facts- The sole and substantive ground is directed against the determination of cost of acquisition of asset where excess payment is made over and above the agreed price consideration in acquiring it.

In a scrutiny assessment u/s 143(3) of the Act, the Ld. Dy.

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