https://www.taxtmi.com/caselaws?id=770339 ITAT Ahmedabad allowed the assessee's appeal regarding computation of long-term capital gain on residential flat sale. The tribunal held that stamp duty, interior work, and improvement expenditure should be included in cost of acquisition under section 48, and stamp duty for new property purchase should be included in section 54 exemption calculation. The tribunal emphasized pragmatic interpretation of evidentiary requirements, noting the modest expenditure scale, consistency with assessee's financial position, and absence of contrary evidence from Revenue. AO was directed to re-compute long-term capital gain and eligible exemption under section 54 accordingly. en-us Tue, 06 May 2025 00:00:00 +0530 Fri, 09 May 2025 09:12:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770339 ITAT Ahmedabad allowed the assessee's appeal regarding computation of long-term capital gain on residential flat sale. The tribunal held that stamp duty, interior work, and improvement expenditure should be included in cost of acquisition under section 48, and stamp duty for new property purchase should be included in section 54 exemption calculation. The tribunal emphasized pragmatic interpretation of evidentiary requirements, noting the modest expenditure scale, consistency with assessee's financial position, and absence of contrary evidence from Revenue. AO was directed to re-compute long-term capital gain and eligible exemption under section 54 accordingly. Case-Laws Income Tax Tue, 06 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770339