ITAT Holds Cost of Acquisition Cannot Be Taken as Nil Merely Because Old Records Are Unavailable:

ITAT Holds Cost of Acquisition Cannot Be Taken as Nil Merely Because Old Records Are Unavailable

The ITAT Bangalore rules that interest under Section 234A cannot be levied for the period during which filing a valid return was legally impossible before notice under Section 148.

ITAT Directs Fresh Capital Gains Computation

authorSaimadateJul 6, 2026
Last update on Jul 6, 2026
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ITAT Holds Cost of Acquisition Cannot Be Taken as Nil Merely Because Old Records Are Unavailable

The ITAT Bangalore rules that interest under Section 234A cannot be levied for the period during which filing a valid return was legally impossible before notice under Section 148.

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Saima is a Law graduate with a passion for research and content writing. She writes for Finance, Taxation and Legal Updates at Studycafe.in, simplifying complex legal decisions by the ITAT, High Court, AAR and GSTAT into uncomplicated and clear explanations.
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