https://www.taxtmi.com/caselaws?id=287838 The Tribunal upheld the decision of the ld. Commissioner of Income Tax (Appeals) to allow interest on a housing loan as part of the cost of acquisition/improvement for calculating capital gains. The Tribunal emphasized that provisions for deduction under section 24(b) and computation of capital gains under section 48 are distinct and do not exclude each other. The Tribunal dismissed the Revenue's appeal, affirming the allowance of the interest amount as part of the cost of acquisition for calculating capital gains. en-us Fri, 06 Jan 2017 00:00:00 +0530 Wed, 06 May 2020 06:01:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287838 The Tribunal upheld the decision of the ld. Commissioner of Income Tax (Appeals) to allow interest on a housing loan as part of the cost of acquisition/improvement for calculating capital gains. The Tribunal emphasized that provisions for deduction under section 24(b) and computation of capital gains under section 48 are distinct and do not exclude each other. The Tribunal dismissed the Revenue's appeal, affirming the allowance of the interest amount as part of the cost of acquisition for calculating capital gains. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287838