ranjit jain (Partner) (37 Points)
17 April 2014Whether compensation paid by a land owner to a developer to terminate developer agreement amounts to cost of improvement ? or cost of acquisition ?
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2010 Points)
Replied 17 April 2014
to my mind it is not a cost of acquisition and nor cost of improvement
this is just a expenditure in the nature of drawings
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