https://www.taxtmi.com/caselaws?id=412050 The Tribunal ruled that Long Term Capital Gains (LTCG) from the property sale should be taxed in the individual's capacity, not the HUF's. The deduction claim under Section 54 was restricted to 50% due to joint ownership with the spouse. The rejection of additional costs was subject to verification. Brokerage expenses were allowed but limited to 50% deduction. Post-purchase expenses were not deductible under Section 54. Indexed cost of improvement was disallowed for routine repairs. The decision emphasized proper documentation and adherence to legal provisions under the Income Tax Act, partially allowing the appeal. en-us Wed, 01 Sep 2021 00:00:00 +0530 Thu, 09 Sep 2021 08:18:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412050 The Tribunal ruled that Long Term Capital Gains (LTCG) from the property sale should be taxed in the individual's capacity, not the HUF's. The deduction claim under Section 54 was restricted to 50% due to joint ownership with the spouse. The rejection of additional costs was subject to verification. Brokerage expenses were allowed but limited to 50% deduction. Post-purchase expenses were not deductible under Section 54. Indexed cost of improvement was disallowed for routine repairs. The decision emphasized proper documentation and adherence to legal provisions under the Income Tax Act, partially allowing the appeal. Case-Laws Income Tax Wed, 01 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412050