A person invested Rs.65L for the purchase of H.Property. The agreement clearly indicate the beneficiary rights of the owner in the common area of the building. After few years Rs.2.5L has been paid by the owner for the repairing work of the building.Definitely this has increase the value of the property. Will this be considered as "Cost of Improvement" in Income Tax while calculating Capital Gain that arises on the sale of the property?Do quote any case study in this connection for better understanding.
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