Tax Appeal Overturns Disallowance of Improvement Costs Due to Lack of Evidence Against Valuer's Statement.

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....LTCG - Deduction towards the ‘Cost of Improvement’ - The authorities have blown hot & cold in disallowing the expenditure. The selective reading of the sale agreement and lack of mentioning of pump and modular kitchen cannot necessarily lead to disallowance. AO could not bring anything on record that the statement given by the valuer is wrong on facts or had inconsistencies. Hence, we allow the appeal of the assessee on this ground. - AT....