https://www.taxtmi.com/caselaws?id=343423 The Court upheld the ITAT's decision to allow indexation benefit on borrowing costs when the leasehold right was cancelled and later restored. The Court found that the interest cost formed part of the actual cost of the land and was continuously capitalized for property development, supporting its inclusion in the calculation of long term capital gains. The appeal by the Revenue was dismissed as no substantial question of law arose on this issue for the Assessment Year 2008-09. en-us Tue, 16 May 2017 00:00:00 +0530 Thu, 25 May 2017 10:24:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343423 The Court upheld the ITAT's decision to allow indexation benefit on borrowing costs when the leasehold right was cancelled and later restored. The Court found that the interest cost formed part of the actual cost of the land and was continuously capitalized for property development, supporting its inclusion in the calculation of long term capital gains. The appeal by the Revenue was dismissed as no substantial question of law arose on this issue for the Assessment Year 2008-09. Case-Laws Income Tax Tue, 16 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343423