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Income Tax - Highlights / Catch Notes

Home Highlights February 2024 Year 2024 This

Capital gain computation - disallowance of interest on housing ...

Income Tax

February 17, 2024

Capital gain computation - disallowance of interest on housing loan which has been claimed as part cost of acquisition - The ITAT upheld the CIT(A)'s decision, agreeing that the interest payment did not have a direct nexus with the acquisition of the property and, therefore, could not be included in the cost of acquisition for calculating LTCG.

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