https://www.taxtmi.com/caselaws?id=342618 The Tribunal allowed the appeal filed by the assessee, determining that the interest paid on borrowed funds for purchasing the property should be considered part of the cost of acquisition for computing capital gains. The Tribunal reversed the findings of the CIT(A) and held that excluding the interest from the actual cost of the property would lead to anomalous results. Consequently, the grounds related to the validity of the Assessing Officer's order and the disallowance of the cost of improvement were resolved in favor of the assessee. en-us Fri, 05 May 2017 00:00:00 +0530 Tue, 09 May 2017 07:40:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342618 The Tribunal allowed the appeal filed by the assessee, determining that the interest paid on borrowed funds for purchasing the property should be considered part of the cost of acquisition for computing capital gains. The Tribunal reversed the findings of the CIT(A) and held that excluding the interest from the actual cost of the property would lead to anomalous results. Consequently, the grounds related to the validity of the Assessing Officer's order and the disallowance of the cost of improvement were resolved in favor of the assessee. Case-Laws Income Tax Fri, 05 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342618