https://www.taxtmi.com/caselaws?id=358458 The tribunal modified the lower authorities' decisions on both issues. It estimated the cost of land improvement at Rs. 6 lacs, higher than the AO's estimation of Rs. 3 lacs, and allowed a deduction for the investment in a new asset up to Rs. 20 lacs, despite objections due to the property being in the wife's name. The appellant's claims were partially upheld, with the tribunal considering the lack of complete supporting evidence but acknowledging the work done on the land and the uncertainties surrounding the property purchase. en-us Mon, 09 Apr 2018 00:00:00 +0530 Thu, 12 Apr 2018 07:40:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358458 The tribunal modified the lower authorities' decisions on both issues. It estimated the cost of land improvement at Rs. 6 lacs, higher than the AO's estimation of Rs. 3 lacs, and allowed a deduction for the investment in a new asset up to Rs. 20 lacs, despite objections due to the property being in the wife's name. The appellant's claims were partially upheld, with the tribunal considering the lack of complete supporting evidence but acknowledging the work done on the land and the uncertainties surrounding the property purchase. Case-Laws Income Tax Mon, 09 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358458