TMI BlogForfeiture of advance received against capital asset - Since the forfeiture amount is more than the cost...Forfeiture of advance received against capital asset - Since the forfeiture amount is more than the cost of asset, the excess amount of forfeiture has to be brought to tax in the present year - and in the year of sale of that property, cost of acquisition should be taken at NIL to compute Capital Gain - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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