https://www.taxtmi.com/caselaws?id=795133 Indexed cost of improvement remains deductible when computing long-term capital gains even where deemed sale consideration is adopted under section 50C. Section 50C prescribes the sale consideration to be used for computation but does not restrict deduction of otherwise allowable improvement costs. In reassessment concerning underreported capital gains, a taxpayer may claim indexed construction costs in the return filed in response to the reassessment notice. Rejection of such a claim solely because section 50C applies is incorrect; the claimed expenditure must instead be verified and quantified. en-us Wed, 17 Jun 2026 00:00:00 +0530 Fri, 17 Jul 2026 08:37:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795133 Indexed cost of improvement remains deductible when computing long-term capital gains even where deemed sale consideration is adopted under section 50C. Section 50C prescribes the sale consideration to be used for computation but does not restrict deduction of otherwise allowable improvement costs. In reassessment concerning underreported capital gains, a taxpayer may claim indexed construction costs in the return filed in response to the reassessment notice. Rejection of such a claim solely because section 50C applies is incorrect; the claimed expenditure must instead be verified and quantified. Case-Laws Income Tax Wed, 17 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795133