https://www.taxtmi.com/caselaws?id=799941 Cost of improvement in computing capital gains must be attributable to the capital asset or ownership interest transferred. Where jointly owned land is improved but an assessee transfers only a one-tenth interest, expenditure cannot be deducted in full merely because the assessee incurred it or other co-owners made no claim. Without a legally enforceable arrangement or cogent evidence entitling the assessee to set off the entire expenditure against proceeds from the individual share, deduction is restricted to the proportion corresponding to the transferred interest. Accordingly, only one-tenth of the improvement cost is allowable. en-us Fri, 18 Sep 2026 00:00:00 +0530 Tue, 29 Sep 2026 08:34:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799941 Cost of improvement in computing capital gains must be attributable to the capital asset or ownership interest transferred. Where jointly owned land is improved but an assessee transfers only a one-tenth interest, expenditure cannot be deducted in full merely because the assessee incurred it or other co-owners made no claim. Without a legally enforceable arrangement or cogent evidence entitling the assessee to set off the entire expenditure against proceeds from the individual share, deduction is restricted to the proportion corresponding to the transferred interest. Accordingly, only one-tenth of the improvement cost is allowable. Case-Laws Income Tax Fri, 18 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799941