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45(5) compulsory acquisition

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(Querist)
01 May 2015 The client has transferred the land to the municipality in the extension of road of the city. The municipality has taken it at FREE OF COST. Is capital Gains were applicable to this transaction?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
02 May 2015 Yes. You can claim Negative Capital Gain (Loss).
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