Cost of acquisition on Permanent Alternate Accomodation
This query is : Resolved
13 August 2023
A has purchased tenancy rights from B by buying on ownership basis a flat for B in the year 2000. Thereafter tenancy was transferred by Landlord in the name of A. The Landlord redeveloped the said property and gave a flat to A in the new building by executing in the Permanent Alternate Accommodation in lieu of his A surrendering his tenancy rights. The said Agreement was executed and registered in Oct 2001. At Present A is in the process of selling the said flat.
Query?
What will be the cost of acquisition of the Alternate flat given to A?
a. The cost incurred for purchasing flat for B.
b. Market value/Stamp duty value of new flat given to A in Oct 2001.
Kindly advise.
Thanks
A has purchased tenancy rights from B by buying on ownership basis a flat for B in the year 2000. Thereafter tenancy was transferred by Landlord in the name of A. The Landlord redeveloped the said property and gave a flat to A in the new building by executing in the Permanent Alternate Accommodation in lieu of his A surrendering his tenancy rights. The said Agreement was executed and registered in Oct 2001. At Present A is in the process of selling the said flat.
Query?
What will be the cost of acquisition of the Alternate flat given to A?
a. The cost incurred for purchasing flat for B.
b. Market value/Stamp duty value of new flat given to A in Oct 2001.
Kindly advise.
Thanks
13 August 2023
a. The cost incurred for purchasing flat form B.
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