https://www.taxtmi.com/news?id=13032 Sums received as advances during negotiations for transfer of a capital asset, when forfeited and the negotiations do not result in transfer, are to be charged under the head Income From Other Sources, and included in the definition of income. Correspondingly, where such an advance has been included in total income, that amount shall not be deducted from the cost of acquisition, written down value or fair market value of the asset in computing cost. en-us Sun, 13 Jul 2014 16:21:49 +0530 Sun, 13 Jul 2014 16:21:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13032 Sums received as advances during negotiations for transfer of a capital asset, when forfeited and the negotiations do not result in transfer, are to be charged under the head Income From Other Sources, and included in the definition of income. Correspondingly, where such an advance has been included in total income, that amount shall not be deducted from the cost of acquisition, written down value or fair market value of the asset in computing cost. News - Sun, 13 Jul 2014 16:21:49 +0530 https://www.taxtmi.com/news?id=13032