WHETHER COST OF A.C., MODULAR KITCHEN, LIFT, PUMP COME UNDER THE DEFINATION OF COST OF IMPROVEMENT? - Video

Link of full case : https://taxlawsonline.com/agtlol.html?968fecd140b0

[2024] 109 ITR (Trib) 439 (ITAT[Del])
[BEFORE THE INCOME-TAX APPELLATE TRIBUNAL — DELHI "D" BENCH]

RAJIV GHAI
v.
ASSISTANT COMMISSIONER OF INCOME-TAX (INTERNATIONAL TAXATION)

(and vice versa)
______
SAKTIJIT DEY (Vice President) and DR. B. R. R. KUMAR (Accountant Member)

December 26, 2023

Playlist: Cost of improvement,

A.Y: 2016-17/Assessee

Question: WHETHER COST OF A.C., MODULAR KITCHEN, LIFT, PUMP COME UNDER THE DEFINATION OF COST OF IMPROVEMENT?

1. Assessing officer failed to prove inaccuracies in valuer’s report.

2. Cost of installation of lift allowable item of cost of improvement.

3. For section 54F exemption purchase of house in name of assessee’s father when assessee was not in India.

4. Investments made from assessee’s account.

5. Ultimately house gifted by parents to assessee.

6. All the improvements made necessary lead to the improvement in value of the sale.

7. The authorities have blown hot and cold in disallowing the expenditure.

8. The selective reading of the sale agreement and lack of mentioning of pump and modular kitchen, A.C. cannot necessarily lead to disallowance.

9. The A.O. could not bring anything on record that the statement given by the valuer is wrong on the facts or had inconsistencies.

10. Whether to have a lift in the house or not is certainly not the purview of the A.O. & none the less the age of father of assessee is 90 years.

11. All the expenses which are necessary for making the place habitable come under definition of cost of improvement.

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Link for some important videos:

1) WHETHER TRIBUNAL CAN REMAND MATTER IN ENTIRETY WHERE DEPARTMENT DID NOT FILE CROSS APPEALS?- https://www.youtube.com/watch?v=gkqMk...

2) WHETHER ASSESSEE HAS ALSO TO CHALLENGE THE FINDINGS OF THE A.O THAT NOTICE HAS BEEN SERVED?- https://www.youtube.com/watch?v=XbZWh...

3) WHETHER EXTENDED TIME LIMIT U/S 149(1)(b) CAN BE USED ON THE BASIS OF SALES CONSIDERATION U/S 48?- https://www.youtube.com/watch?v=WuRt9...

4) WHETHER NOTICE SENT TO SECONDARY EMAIL IS VALID IF NOT SENT TO PRIMARY E-MAIL U/S 148?- https://www.youtube.com/watch?v=aAzHE...

5) WHETHER ENTRIES IN BOOKS OF ACCOUNTS CONCLUSIVE TO DETERMINE TAXABLE INCOME OF ASSESSEE?- https://www.youtube.com/watch?v=Rx8JQ...