https://www.taxtmi.com/caselaws?id=469369 Indexed cost of improvement was allowable in computing long-term capital gains where the departmental valuation report quantified the improvement cost and no effective challenge was made to that valuation. The section 54 claim could not be rejected merely because a completion certificate from the local authority had not been obtained, since the provision requires purchase or construction of a residential house within the prescribed period and does not make such certificate a condition. The deduction issue was remitted to the Assessing Officer for verification of the actual expenditure on the new house, with relief allowed for statistical purposes. en-us Wed, 05 Mar 2025 00:00:00 +0530 Mon, 15 Jun 2026 14:08:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469369 Indexed cost of improvement was allowable in computing long-term capital gains where the departmental valuation report quantified the improvement cost and no effective challenge was made to that valuation. The section 54 claim could not be rejected merely because a completion certificate from the local authority had not been obtained, since the provision requires purchase or construction of a residential house within the prescribed period and does not make such certificate a condition. The deduction issue was remitted to the Assessing Officer for verification of the actual expenditure on the new house, with relief allowed for statistical purposes. Case-Laws Income Tax Wed, 05 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469369