https://www.taxtmi.com/caselaws?id=801320 For computing long-term capital gains under Section 48, the cost of acquisition of a constructed residential flat should include independently substantiated acquisition and construction expenditure, even where the registered conveyance records a lower amount. Contemporaneous housing-finance records, including loan disbursement, repayment and closure material, corroborate the additional cost and support applicable indexation; the recorded sale-deed consideration is not conclusive where the loan is not shown to be unrelated to the property. Reassessment based on property-sale information and non-filing of a return remains valid where an opportunity under Section 148A(b), an order under Section 148A(d), and notice under Section 148 were issued. en-us Tue, 15 Sep 2026 00:00:00 +0530 Mon, 19 Oct 2026 07:01:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801320 For computing long-term capital gains under Section 48, the cost of acquisition of a constructed residential flat should include independently substantiated acquisition and construction expenditure, even where the registered conveyance records a lower amount. Contemporaneous housing-finance records, including loan disbursement, repayment and closure material, corroborate the additional cost and support applicable indexation; the recorded sale-deed consideration is not conclusive where the loan is not shown to be unrelated to the property. Reassessment based on property-sale information and non-filing of a return remains valid where an opportunity under Section 148A(b), an order under Section 148A(d), and notice under Section 148 were issued. Case-Laws Income Tax Tue, 15 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801320