MARATH VELAYUDHAN JOSHY,TRICHUR vs. ITO, WARD 1(1), THRISSUR

In the result, the appeal of the assessee is allowed for statistical purposes

Bench: Shri Inturi Rama Rao & Shri Sonjoy Sarma

Section 148 of the Income-taxAct, 1961, the assessee filed a return of income for AY 2015-16. During theyear under consideration, the assessee had sold a property comprising landpurchased for 40,000 and a house constructed thereon for Rs.28,68,800/-. Theassessee claimed indexed cost of improvement amounting to Rs.46,48,182/-.However, the Assessing Officer disallowed