https://www.taxtmi.com/caselaws?id=757308 ITAT Mumbai allowed assessee's appeal regarding disallowance of indexed cost of acquisition deduction u/s 48. AO denied deduction due to lack of documentary evidence, while CIT(A) refused to admit additional evidence. ITAT noted notices were issued during Covid period, providing reasonable cause for non-appearance before AO. Assessee had submitted relevant documents including seller's affidavit, receipt, society transfer documents, MHADA transfer letter, and share certificate to CIT(A). Considering Covid circumstances and availability of substantiating documents, ITAT granted assessee another opportunity to present evidence before AO. Appeal allowed for statistical purposes. en-us Fri, 02 Feb 2024 00:00:00 +0530 Thu, 22 Aug 2024 09:08:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757308 ITAT Mumbai allowed assessee's appeal regarding disallowance of indexed cost of acquisition deduction u/s 48. AO denied deduction due to lack of documentary evidence, while CIT(A) refused to admit additional evidence. ITAT noted notices were issued during Covid period, providing reasonable cause for non-appearance before AO. Assessee had submitted relevant documents including seller's affidavit, receipt, society transfer documents, MHADA transfer letter, and share certificate to CIT(A). Considering Covid circumstances and availability of substantiating documents, ITAT granted assessee another opportunity to present evidence before AO. Appeal allowed for statistical purposes. Case-Laws Income Tax Fri, 02 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757308