SANJAY GUPTA,GURGAON HARYANA vs. DEL-C-(52)-1, DELHI

ITA 7448/DEL/2025Status: DisposedITAT Delhi28 April 2026AY 2022-236 pages
AI SummaryAllowed

What were the facts?

The assessee claimed a long-term capital loss on the sale of a property, including indexed interest expenditure incurred on a loan taken for its acquisition. The Assessing Officer and CIT(A) disallowed this interest expenditure as part of the cost of acquisition.

What did the Tribunal hold?

The Tribunal held that interest paid on borrowed funds for the acquisition of a capital asset is includable in the cost of acquisition for determining capital gains. The benefit of indexation on such interest expenditure is also allowable.

What were the issues?

Whether interest expenditure incurred for the acquisition of a capital asset can be included in the cost of acquisition for computing capital gains, and if indexation benefit is available on such interest.

Which sections of the Income-tax Act were involved?

Section 48,Section 55(2),Section 24(b),Section 143(3),Section 144B,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI

For Appellant: Shri V. K. Bajaj, C.A. and Shri Ravinder bajaj, C.A
For Respondent: Ms. Ankush Kalra, Sr. D.R
Hearing: 28.04.2026Pronounced: 28.04.2026

PER NAVEEN CHANDRA, ACCOUNTANT MEMBER :

This captioned appeal is filed by the assessee against the order of Learned Commissioner of Income Tax (Appeals)-NFAC, Delhi dated 24.09.2025 under section 250 of the Act (hereinafter referred as ‘the Act’) arising from the assessment order dated 21.03.2024 by the NFAC, Delhi under section 143(3) r.w.s. 144B of the Act for the Assessment Year 2022-23. [A.Y 2022-23] Sanjay Gupta vs. Del-C-(52)-1

2.

The Assessee has raised the following grounds of appeal:

1.

That in the facts and circumstances of the case and in law, the Ld. Commissioner of Income Tax (Appeals) [CIT(A)] has erred in passing the appellate order under section 250 read with section 144B of t

The order continues below.

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