https://www.taxtmi.com/caselaws?id=758113 ITAT Hyderabad partially allowed the assessee's appeal regarding capital gains computation. The tribunal directed the AO to accept the assessee's claimed construction cost of Rs. 500 per sq ft, supported by a registered valuer's report, rejecting both the AO's arbitrary rate of Rs. 250 and CIT(A)'s average rate of Rs. 380 per sq ft. Regarding transfer expenses, the tribunal allowed Rs. 3 lakhs out of Rs. 6 lakhs claimed as compensation paid to a tenant, finding the payment reasonable based on circumstantial evidence including demand drafts issued before property transfer. en-us Mon, 02 Sep 2024 00:00:00 +0530 Sat, 07 Sep 2024 08:19:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758113 ITAT Hyderabad partially allowed the assessee's appeal regarding capital gains computation. The tribunal directed the AO to accept the assessee's claimed construction cost of Rs. 500 per sq ft, supported by a registered valuer's report, rejecting both the AO's arbitrary rate of Rs. 250 and CIT(A)'s average rate of Rs. 380 per sq ft. Regarding transfer expenses, the tribunal allowed Rs. 3 lakhs out of Rs. 6 lakhs claimed as compensation paid to a tenant, finding the payment reasonable based on circumstantial evidence including demand drafts issued before property transfer. Case-Laws Income Tax Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758113