https://www.taxtmi.com/caselaws?id=217380 A payment received for surrendering a separately granted right to draw water from a well was held outside capital gains tax because the right had been obtained without any cost of acquisition. The receipt was not treated as enhanced compensation for the earlier land acquisition, as the land and well had already been acquired and the original compensation had become final. Since no computable cost of acquisition existed, sections 45(1) and 48(1) could not operate, and section 55(2) supported exclusion from tax. The addition was therefore deleted. en-us Mon, 16 Jul 2012 00:00:00 +0530 Sat, 06 Oct 2012 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217380 A payment received for surrendering a separately granted right to draw water from a well was held outside capital gains tax because the right had been obtained without any cost of acquisition. The receipt was not treated as enhanced compensation for the earlier land acquisition, as the land and well had already been acquired and the original compensation had become final. Since no computable cost of acquisition existed, sections 45(1) and 48(1) could not operate, and section 55(2) supported exclusion from tax. The addition was therefore deleted. Case-Laws Income Tax Mon, 16 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217380