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2020 (5) TMI 80 - AT - Income TaxCapital gain computation - Non-grant of deduction of interest expenditure as part of cost of construction while computing capital gains u/s 48 - HELD THAT:- There is a consistent view among various Hon’ble High Courts and which has been consistently followed by the various Benches of the Tribunal that the assessee is entitled to include interest as part of the cost of the assets while computing the capital gains u/s 48 of the Act. In the absence of any contrary authority brought to our notice, the Assessing Officer is directed to allow the interest expenses paid to LIC Housing Finance Ltd. subject to appropriate indexation while computing capital gains u/s 48. - Appeal of the assessee is allowed.
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