ITAT Chennai Grants Another Opportunity to Substantiate Cost of Improvement Claim

Vasagar Vs ITO (ITAT Chennai) Income Tax Appellate Tribunal (ITAT), Chennai Bench, has granted a taxpayer a fresh opportunity to substantiate a claim of Rs. 18,20,472 towards the cost of improvement, which was disallowed by the Assessing Officer (AO) and subsequently upheld by the Commissioner of Income Tax (Appeals) [CIT(A)] on an ex-parte basis. The ITAT’s decision, pronounced on April 30, 2025, sets aside the orders of both the AO and the CIT(A) and remits the matter back to the AO for a fresh assessment. The case pertains to the Assessment Year (AY) 2018-19, involving an appeal filed...