https://www.taxtmi.com/caselaws?id=797146 Indexed cost of improvement claimed on sale of flats received under a joint development arrangement requires reliable proof of actual expenditure. Where the development agreement placed construction costs on the developer and the flats were sold as semi-furnished, quotations and proposed-work estimates did not establish further improvement costs. Evidence such as material purchase records, labour-payment proof, or other documentation of expenditure was required. The proportionate NALA payment claim also required supporting evidence. In the absence of substantiation, the indexed cost of improvement and related NALA claim were disallowable in computing long-term capital gains. en-us Fri, 07 Aug 2026 00:00:00 +0530 Tue, 18 Aug 2026 08:35:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797146 Indexed cost of improvement claimed on sale of flats received under a joint development arrangement requires reliable proof of actual expenditure. Where the development agreement placed construction costs on the developer and the flats were sold as semi-furnished, quotations and proposed-work estimates did not establish further improvement costs. Evidence such as material purchase records, labour-payment proof, or other documentation of expenditure was required. The proportionate NALA payment claim also required supporting evidence. In the absence of substantiation, the indexed cost of improvement and related NALA claim were disallowable in computing long-term capital gains. Case-Laws Income Tax Fri, 07 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797146