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2019 (5) TMI 1644 - PUNJAB AND HARYANA HIGH COURTComputation of capital gain - evidence of cost of improvement - contractor in his statement recorded u/s 131 had stated that very petty renovation was made - no substantive or corroborative material was produced by the assessee with regard to the renovation works done - HELD THAT:- The Tribunal upheld the addition of ₹ 10,31,906/- made on account of repair and renovation of the property by concluding that from the documents available on record, nowhere it was specified by the assessee as to when the renovation of hotel and from whom the same was done. The assessee had only relied upon quotation dated 26.6.1999 which was rejected by the Assessing Officer and the CIT(A) that the said quotation was not an evidence of actual expenditure incurred on renovation works in the hotel. In the absence of the bills of material and labour or any proof of having incurred renovation expenditure on the hotel building, the claim of the assessee was rightly rejected by the CIT(A). The Tribunal had further observed that the assessee got various opportunities to substantiate his claim, but he failed to establish his case. No illegality or perversity could be pointed out by learned counsel for the assessee in the findings recorded by the CIT(A) and affirmed by the Tribunal which may warrant interference by this Court - appeal is dismissed.
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