https://www.taxtmi.com/caselaws?id=70061 The Tribunal upheld the assessment of Rs. 2,90,000 as capital gains, ruling that the compensation received for relinquishing the right to obtain a sale deed constituted a transfer of a capital asset. It was concluded that the right to obtain a conveyance is a 'capital asset,' and relinquishing this right amounts to a 'transfer,' attracting capital gains tax. The Tribunal determined the cost of acquisition to be Rs. 40,000 and dismissed the appeal by the assessee. en-us Fri, 17 Aug 2001 00:00:00 +0530 Thu, 14 Apr 2011 10:48:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70061 The Tribunal upheld the assessment of Rs. 2,90,000 as capital gains, ruling that the compensation received for relinquishing the right to obtain a sale deed constituted a transfer of a capital asset. It was concluded that the right to obtain a conveyance is a 'capital asset,' and relinquishing this right amounts to a 'transfer,' attracting capital gains tax. The Tribunal determined the cost of acquisition to be Rs. 40,000 and dismissed the appeal by the assessee. Case-Laws Income Tax Fri, 17 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70061