16 January 2024
Capital asset being tenancy right in home is.sold to another tenant.
My.view -- acquisition cost will be nil due to tenancy rights bought before 2001 for no cost (if no cost is incurred before 2001) ,so fmv cant be taken..
But my q is.. can we take cost of improvement over the years from 2001 till today? Like repairs etc?
My view yes..n just index that cost of improvement
CAclubindia
