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2023 (2) TMI 160 - AT - Income TaxCapital gain Computation - indexation of cost benefit to compute the cost of accusation -disallowance of indexed cost improvement for want of evidences regarding construction/development claimed to have been done/incurred by the assessee’s late mother - HELD THAT:- It is not in dispute that the assessee has not furnished even a single piece of evidence such as receipt/bills to substantiate the claim of cost of improvement which ultimately resulted in disallowing the indexed cost of improvement claimed by the assessee by the Lower Authorities. Though the onus to establish the genuineness of any expenditure incurred by the assessee lies on himself/herself, which has not been established by the assessee. But the facts remains that there will be incurred certain expenditure to maintain/improve the property and reasonable estimation to be made in the absence of proper bills and vouchers produced by the assessee. Here being any evidence in support of the same is not only unreasonable but also exorbitant and excessive. However, in the interest of justice, we deem it fit to be estimated the expenditure at Rs.2,000/- per annum in the year 1982 and 10% increase to be made from year to year up to 2005 to meet the ends of justice. Accordingly, we direct the Ld. A.O. to consider the amount of Rs. 2,000/- in the year 1982 and increased the same by the 10% in each year up to 2005 and grant the indexation of cost benefit to compute the cost of accusation in terms of Section 49 of the IT Act. Accordingly, the grounds of appeal are partly allowed.
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