Tribunal held that amount forfeited cannot be assessed as income . Assessee is justified in reducing the said amount from cost of the land.( AY.2008 -09)
Geeta Dubey (Smt.) . v. ITO (2018) 172 ITD 538 (Indore) (Trib.)
S. 4 : Charge of income-tax – Forfeited amount cannot be assessed as income – Justified in reducing the said amount from cost of the land [ .S.51]