https://www.taxtmi.com/caselaws?id=242078 The Appellate Tribunal ITAT Chennai allowed the appeal of the assessee, directing the Assessing Officer to consider the Rs. 13,70,000 as the cost of improvement of the asset for computing capital gains. The Tribunal found that even though the contractors did not complete the work, the assessee had made payments, deducted TDS, and finished the improvements himself before selling the property. Therefore, the cost of improvement paid to contractors was deemed allowable for computing capital gains. en-us Mon, 29 Apr 2013 00:00:00 +0530 Tue, 07 Jan 2014 07:05:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242078 The Appellate Tribunal ITAT Chennai allowed the appeal of the assessee, directing the Assessing Officer to consider the Rs. 13,70,000 as the cost of improvement of the asset for computing capital gains. The Tribunal found that even though the contractors did not complete the work, the assessee had made payments, deducted TDS, and finished the improvements himself before selling the property. Therefore, the cost of improvement paid to contractors was deemed allowable for computing capital gains. Case-Laws Income Tax Mon, 29 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242078