Entitlement to cost of improvement and consequent indexed cost ...

Assessee's Wife Accepts AO's Decision, Denied Cost of Improvement; Assessee Cannot Claim Costs u/s 48.

November 27, 2020

Case Laws     Income Tax     AT

Entitlement to cost of improvement and consequent indexed cost of improvement - The assessee’s wife who was holding 50% title on the said land, has not been allowed cost of improvement or indexed cost of improvement by the AO and no further appeal or any other proceedings have been initiated by her accepting the rejection of claim by the AO. No hesitation to hold that the assessee is not entitled for any cost of improvement and consequent indexed cost of improvement. - AT

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