ITAT Upholds Development Expenses: Why ‘Mitti Bharai’ is Not Exaggerated Deduction in LTCG

Kiran Yadav Vs ITO (ITAT Jaipur) Genuine Development Expenses-  Boundary Wall & Mitti Bharai – Must Be Allowed Allowed as Cost of Improvement – Only Security Guard Disallowed Assessee sold a residential plot &  originally declared LTCG of ₹2,67,284 after claiming indexed cost of purchase, boundary wall &  mitti bharai. During reassessment u/s 147, on being confronted with Sec.50C, she filed a revised computation adopting stamp duty value of ₹19,31,391 &  also enhanced development cost &  additionally claimed ₹4,28,676 as security guard expenses to protect...