Advance money received on capital gains

1. Reduce from Cost/WDV/FMV : Any advance money or any other sum received and retained by the assessee is to be reduced either from

(a) Cost of Acquisition; or
(b) Written Down Value; or
(c) Fair Market Value.

2. Applicability: This provision is applicable only when the transfer as per the original agreement does not take place and the advance money is received and forfeited by the assessee as per the agreement.

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