https://www.taxtmi.com/caselaws?id=777000 ITAT AHMEDABAD - AT set aside the assessment and directed the AO to recompute long-term capital gains, enquiring into and allowing deduction for cost of acquisition and cost of improvement (if any) after calling for and verifying relevant details, noting the Department cannot benefit from an assessee's ignorance. The tribunal also directed the AO to allow deduction under section 54F for expenses on construction incurred up to the extended due date under section 139(4), subject to verification and confirmation that the assessee did not own more than one house property on the date of sale. en-us Wed, 20 Aug 2025 00:00:00 +0530 Fri, 22 Aug 2025 08:33:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777000 ITAT AHMEDABAD - AT set aside the assessment and directed the AO to recompute long-term capital gains, enquiring into and allowing deduction for cost of acquisition and cost of improvement (if any) after calling for and verifying relevant details, noting the Department cannot benefit from an assessee's ignorance. The tribunal also directed the AO to allow deduction under section 54F for expenses on construction incurred up to the extended due date under section 139(4), subject to verification and confirmation that the assessee did not own more than one house property on the date of sale. Case-Laws Income Tax Wed, 20 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777000