https://www.taxtmi.com/caselaws?id=409432 The Tribunal held that the forfeited amount of Rs. 3 crores was not taxable under Section 28(iv) of the Income Tax Act and should reduce the cost of the property under Section 51. The appeal by the assessee was allowed, directing the AO to delete the impugned addition. en-us Wed, 30 Jun 2021 00:00:00 +0530 Thu, 08 Jul 2021 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409432 The Tribunal held that the forfeited amount of Rs. 3 crores was not taxable under Section 28(iv) of the Income Tax Act and should reduce the cost of the property under Section 51. The appeal by the assessee was allowed, directing the AO to delete the impugned addition. Case-Laws Income Tax Wed, 30 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409432