https://www.taxtmi.com/forum/issue?id=118738 The compulsory acquisition is not exempt under section 10(37) and was taxable in the year of acquisition; the concessional allotment of sites does not amount to enhanced compensation as ordinarily understood, so the cost for capital gains computation is the actual amount paid for allotment. If the allotment were treated as enhanced compensation, capital gains would be computed under the relevant capital gains provision, but the assessor's view is that the Shetty principle on indeterminable cost does not apply because the cost is ascertainable from the amount paid. en-us Wed, 06 Sep 2023 20:49:07 +0530 Thu, 23 Jan 2025 14:23:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118738 The compulsory acquisition is not exempt under section 10(37) and was taxable in the year of acquisition; the concessional allotment of sites does not amount to enhanced compensation as ordinarily understood, so the cost for capital gains computation is the actual amount paid for allotment. If the allotment were treated as enhanced compensation, capital gains would be computed under the relevant capital gains provision, but the assessor's view is that the Shetty principle on indeterminable cost does not apply because the cost is ascertainable from the amount paid. Discussion-Forum Income Tax Wed, 06 Sep 2023 20:49:07 +0530 https://www.taxtmi.com/forum/issue?id=118738