Capital gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 March 2016 Dear sir,

One of the my client, He constructed house in 1985-86 and sold house during year 2012-13 as result of capital gain arrived. So he paid to income tax for capital gain.

Now matter come to U/s 143(3) income tax scrutiny. AO asking details for that construction cost for period1985-86.

But my clients informed that there is no proof of construction during year 1985-86.

Please give any suggestion

Nikhil Kaushik

Nikhil Kaushik (Expert)
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16 March 2016 well, if you don't have any proof, on what basis did your client file the claim in the tax return? without documents provided, AO has to write allow or disallow on the basis of his own judgment.