Extension of time for capital gains reinvestment permits reckoning of time from date compensation is received when acquisition is compulsory. Where an original asset is transferred by compulsory acquisition and compensation is not received on the date of transfer, the period for acquiring the ... Summary
Extension of time for capital gains reinvestment permits reckoning of time from date compensation is received when acquisition is compulsory.
Where an original asset is transferred by compulsory acquisition and compensation is not received on the date of transfer, the period for acquiring the new asset or for depositing/investing the capital gain shall be reckoned from the date of receipt of such compensation; a transitional extension gives claimants an additional limited window where compensation was received before the transitional cutoff.
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