https://www.taxtmi.com/caselaws?id=769752 The ITAT Delhi allowed the assessee's appeal partially in a LTCG case involving inherited property sale. The tribunal permitted indexed cost of acquisition and improvement for LTCG computation, supported by circumstantial evidence including the mother's wealth tax returns and municipal records. However, it disallowed 5% of improvement costs attributable to sale proceeds of old building materials. The CIT(A)'s disallowance of mortgage charge deduction was upheld, as the mortgaging business entity differed from the assessee, following the Bombay HC precedent in Roshan babu Mohammed Hussein Merchant case. en-us Mon, 28 Apr 2025 00:00:00 +0530 Thu, 01 May 2025 08:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769752 The ITAT Delhi allowed the assessee's appeal partially in a LTCG case involving inherited property sale. The tribunal permitted indexed cost of acquisition and improvement for LTCG computation, supported by circumstantial evidence including the mother's wealth tax returns and municipal records. However, it disallowed 5% of improvement costs attributable to sale proceeds of old building materials. The CIT(A)'s disallowance of mortgage charge deduction was upheld, as the mortgaging business entity differed from the assessee, following the Bombay HC precedent in Roshan babu Mohammed Hussein Merchant case. Case-Laws Income Tax Mon, 28 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769752