Air Conditioners Classified as Furnishings: Impact on Long-Term Capital Gains and Property Improvement Costs Assessed. https://www.taxtmi.com/highlights?id=62990 Long term capital gains arising on sale of house property - cost of improvement - CIT(A) rightly observed that the air conditioners are at best categorized as furnishing in order to improve the living condition inside the building and it do not enhance the value of building or longevity of the building per se. - AT en-us Tue, 19 Apr 2022 08:54:13 +0530 Tue, 19 Apr 2022 08:54:13 +0530 TaxTMI RSS Generator Air Conditioners Classified as Furnishings: Impact on Long-Term Capital Gains and Property Improvement Costs Assessed. https://www.taxtmi.com/highlights?id=62990 Long term capital gains arising on sale of house property - cost of improvement - CIT(A) rightly observed that the air conditioners are at best categorized as furnishing in order to improve the living condition inside the building and it do not enhance the value of building or longevity of the building per se. - AT Highlights Income Tax Tue, 19 Apr 2022 08:54:13 +0530 https://www.taxtmi.com/highlights?id=62990