ITAT Bangalore Grants Reasonable Estimate for Cost of Improvement

Athaulla Thuppada Vs ITO (ITAT Bangalore) Records for Cost of Improvement – Reasonable Estimate Allowed; Two Houses as One – Tribunal Restores Justice in Property Sale Case – Remands Section 54 Exemption for Fresh Verification- Bangalore examined capital gains computation where the Assessee had sold immovable property but failed to substantiate cost of improvement & exemption claim. Assessee, engaged in catering business, had not filed return for AY 2018-19. Based on information from Registrar regarding property sale, AO reopened assessment u/s 148. The return was belatedly ...