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            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

            Provisions expressly mentioned in the judgment/order text.

            <h1>Advance money forfeiture: post-change forfeitures taxed as income to seller, pre-change forfeitures reduce asset cost for capital gains.</h1> Forfeited advances received in negotiations for transfer of a capital asset reduce the cost of acquisition, fair market value or written down value for capital gains computation if forfeited before 01.04.2014; forfeitures on or after 01.04.2014 are taxable to the seller as Income from Other Sources and are not deductible from the asset's cost. Buyer-side forfeitures generally do not qualify as capital loss; extinguishment of rights (e.g., forfeiture of shares for non-payment of calls) can give rise to short-term capital loss.

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