Capital gain
This query is : Resolved
14 December 2013
The amount received in advance is forfeited.
if the amount forfeited is more than the cost of acquisition then what should be the treatment for that extra money??? is it exempted or taxable? explain.
15 December 2013
I believe it wont be taxable. Two cases come to my mind Sunita Shah and Travancore Rubber. Not sure if the law still stands the same or not.
Other experts may pitch in.
Other experts may pitch in.
15 December 2013
In the hands of the 'proposed seller' it is a 'capital receipt' not exigible to income tax.
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