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ITAT, Mumbai: Amount Spent on Consumable Items can’t be Claimed as Improvement Cost - (04 Apr 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal, Mumbai has observed that the amount spent on consumable items including sofa, tiles, etc., can’t be claimed as cost of improvement to calculate the amount of capital gain under the provisions of the Income Tax Act, 1961.

Tags : INCOME TAX APPELLATE TRIBUNAL   IMPROVEMENT COST   INCOME TAX ACT   196   CAPITAL GAIN  

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