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2013 (4) TMI 829 - ITAT JODHPURComputation of LTCG - Adoption of correct FMV - deduction claimed against Capital Gains - Held that:- Assessee has declared the FMV on the basis of the report of the Registered Valuer - The report of the RV is supported by the backward indexation computed on the basis of cost inflation index [CBDT’s circular No. 636 dated 31.08.1992]- decided in favor of assessee Deduction for cost addition by way of payment made to Bank for protecting right in the property - Held that:- This amount cannot be said, by any stretch of imagination, to be a part of ‘cost of acquisition’ as the assessee had already acquired this property free from any sort of encumbrances - It cannot be treated as ‘cost of improvement’ as it was not incurred towards improvement - Decided against assessee
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