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Air Conditioners Classified as Furnishings: Impact on Long-Term Capital Gains and Property Improvement Costs Assessed.

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....Long term capital gains arising on sale of house property - cost of improvement - CIT(A) rightly observed that the air conditioners are at best categorized as furnishing in order to improve the living condition inside the building and it do not enhance the value of building or longevity of the building per se. - AT....

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