Recomputation of capital gains where compensation is judicially reduced ensures taxable gain reflects the reduced consideration. Where a capital gain assessed for a year was computed using a compensation or consideration that is subsequently reduced by a court, Tribunal or other authority, the assessed capital gain of that year shall be recomputed by treating the compensation or consideration as so reduced as the full value of consideration.
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Provisions expressly mentioned in the judgment/order text.
Recomputation of capital gains where compensation is judicially reduced ensures taxable gain reflects the reduced consideration.
Where a capital gain assessed for a year was computed using a compensation or consideration that is subsequently reduced by a court, Tribunal or other authority, the assessed capital gain of that year shall be recomputed by treating the compensation or consideration as so reduced as the full value of consideration.
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