https://www.taxtmi.com/caselaws?id=357030 The Tribunal upheld the decisions of the AO and Commissioner of Income Tax (Appeals), denying exemption for the Rs. 50 lakhs deposit in Andhra Bank under the capital gains scheme. Additionally, the Tribunal affirmed that interest paid on a housing loan cannot be considered a cost of improvement for capital gains computation, in line with relevant legal precedents. The appeal was dismissed, confirming the disallowance of the exemption and deduction claimed by the assessee. en-us Tue, 13 Mar 2018 00:00:00 +0530 Thu, 15 Mar 2018 19:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357030 The Tribunal upheld the decisions of the AO and Commissioner of Income Tax (Appeals), denying exemption for the Rs. 50 lakhs deposit in Andhra Bank under the capital gains scheme. Additionally, the Tribunal affirmed that interest paid on a housing loan cannot be considered a cost of improvement for capital gains computation, in line with relevant legal precedents. The appeal was dismissed, confirming the disallowance of the exemption and deduction claimed by the assessee. Case-Laws Income Tax Tue, 13 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357030