Case Law Analysis
|Income Tax Appellate Tribunal
Section 48 Capital Gains | Indexation for Under-Construction Property Begins from Date of Allotment, Not Registration : ITAT Delhi
ITAT Delhi rules that for capital gains tax on under-construction properties, indexation of the cost of acquisition must commence from the financial year of allotment and payment, not the registration date. The tribunal also permitted brokerage deduction upon submission of bank transaction evidence, clarifying tax computation for real estate investments.