https://www.taxtmi.com/caselaws?id=238155 Compensation paid to tenants for surrender of tenancy rights was treated as part of the cost of acquisition because the payment was supported by the agreement and acted upon by both sides, but the deduction was restricted proportionately to the portion of the property actually transferred. A taxpayer who had declared a consideration before the statutory authority under Chapter XXC could not later adopt a different value for tax computation, as the principle against approbation and reprobation applied. The question on lower fair market value as on 1 April 1981 was remanded for fresh adjudication because no finding had been recorded. en-us Fri, 07 Jun 2013 00:00:00 +0530 Thu, 17 Oct 2013 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238155 Compensation paid to tenants for surrender of tenancy rights was treated as part of the cost of acquisition because the payment was supported by the agreement and acted upon by both sides, but the deduction was restricted proportionately to the portion of the property actually transferred. A taxpayer who had declared a consideration before the statutory authority under Chapter XXC could not later adopt a different value for tax computation, as the principle against approbation and reprobation applied. The question on lower fair market value as on 1 April 1981 was remanded for fresh adjudication because no finding had been recorded. Case-Laws Income Tax Fri, 07 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238155