Tag Archives: cost of improvement

Defining the cost of acquisition in case of certain assets for computing capital gains

By | February 2, 2023

Defining the cost of acquisition in case of certain assets for computing capital gains BUDGET 2023-24 MEMORANDUM EXPLAINING THE PROVISIONS IN THE FINANCE BILL, 2023 The existing provisions of the section 55 of the Act, inter alia, defines the ‘cost of any improvement’ and ‘cost of acquisition’ for the purposes of computing capital gains. However,… Read More »

Payment to brothers for vacating house held as cost of improvement of house

By | October 22, 2016

Held According to both the assessees, their brothers were residing in the house owned by them and while selling the house in order to get vacant possession, payment of Rs. 21 lakhs was made by Shri Nanubhai Keshavlal Chokshi, HUF in his case, and Rs. 31 lakhs in the case of Shri Lallubhai Keshavlal Chokshi,… Read More »