https://www.taxtmi.com/acts?id=3612 Advance payments received and retained by an assessee during negotiations for transfer of a capital asset must be deducted from the asset's cost of acquisition, written down value or fair market value, as applicable, when computing cost of acquisition for capital gains. However, if such an advance has already been included in the assessee's total income under the income inclusion provisions, it shall not be deducted from the asset's cost basis. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 27 Aug 2025 18:16:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3612 Advance payments received and retained by an assessee during negotiations for transfer of a capital asset must be deducted from the asset's cost of acquisition, written down value or fair market value, as applicable, when computing cost of acquisition for capital gains. However, if such an advance has already been included in the assessee's total income under the income inclusion provisions, it shall not be deducted from the asset's cost basis. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3612