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TMI Blog2018 (12) TMI 181X X X X Extracts X X X X X X X X Extracts X X X X ..... amely, Smt.Wavoo Fathima Muneera, shows that the same AO has accepted the cost of construction of ₹ 14,96,157/- and granted indexation in respect of the said property. This being so, as the cost of construction has been accepted by the Revenue in the case of one of the sisters of assessees, it is not open to Revenue to say that the evidences are not available. This being so, the Assessing Officer is directed to grant the assessee’s benefit of the indexation and the cost in respect of cost of construction incurred by the assessee’s mother in respect of the said property, which has been sold, when computing the long term capital gains. - Decided in favour of assessee. - I.T.A.No.1727/Chny/2017, I.T.A.No.1728/Chny/2017 - - - Dated:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... truction and had re-constructed the said property between the period 2007 and 2010. It was a submission that assessee s mother had incurred expenditure of more than ₹ 14 lakhs. It was submitted that the assessee had claimed the cost inflation index in respect of their mother s investment in the said property. It was a submission that the ld. Assessing Officer did not allow the cost inflation index on the ground that the assessees had not filed any documentary evidence in support of the same. The ld. Assessing Officer had not allowed indexation in respect of cost of indexation from the assessment year 1988-89 also. Aggrieved the assessee preferred an appeal before the Ld.CIT(A). On appeal, Ld.CIT(A) had allowed indexation from the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed u/s.143(3) r.w.s.147 of the Act on 02.03.2016 for assessment year 2010-11 in the case of one of the sisters of the assessees, namely, Smt.Wavoo Fathima Muneera, shows that the same ld. Assessing Officer has accepted the cost of construction of ₹ 14,96,157/- and granted indexation in respect of the said property. This being so, as the cost of construction has been accepted by the Revenue in the case of one of the sisters of assessees, it is not open to Revenue to say that the evidences are not available. This being so, the Assessing Officer is directed to grant the assessee s benefit of the indexation and the cost in respect of cost of construction incurred by the assessee s mother in respect of the said property, which has been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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