https://www.taxtmi.com/highlights?id=62541 LTCG - Computation of cost of acquisition of the property - Unless the Assessing Officer proves that the assessee has demolished existing building and dismantled machinery & fittings and realized amount from sale of said dismantled assets or written off as scrap, then he cannot deny cost incurred by the assessee to acquire those assets. In our considered view, the Assessing Officer has completely erred in not considering cost incurred by the assessee to acquire asset while computing capital gain derived from sale of property. - AT en-us Tue, 22 Mar 2022 12:44:32 +0530 Tue, 22 Mar 2022 12:44:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=62541 LTCG - Computation of cost of acquisition of the property - Unless the Assessing Officer proves that the assessee has demolished existing building and dismantled machinery & fittings and realized amount from sale of said dismantled assets or written off as scrap, then he cannot deny cost incurred by the assessee to acquire those assets. In our considered view, the Assessing Officer has completely erred in not considering cost incurred by the assessee to acquire asset while computing capital gain derived from sale of property. - AT Highlights Income Tax Tue, 22 Mar 2022 12:44:32 +0530 https://www.taxtmi.com/highlights?id=62541