Whether personal effects purchased for house allowed for computation of cost of improvement
Last updated: 30 July 2022
Court :
ITAT Mumbai
Brief :
The amount spent on cost of improvements to make the property habitable allowable as deduction and indexation while computing the capital gains however the amount spent on personal effects such as refrigerator, air conditioner LED, TVS furniture, dining table etc are not eligible for deduction.
Citation :
ITA No.1200/Mum/2020
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FCS Deepak Pratap Singh
Published in Income Tax
Views : 304
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