Hi Please clarify
1. An asset is purchased by the asseessee around 20 years back and the same is not recorded in books. What is the cost of acquisition in this case if the asset is sold now?
2. X has purchased a building and consideration is paid by Y around 15 years back. No amount is incurred by the asseessee. What is the cost of acquistion on the sale of asset. ?
3. Can AO deny the claim for Cost of Acquisition if the asset is purchased more than 10 years ago and the asset is not recorded in books.
Regards
CAclubindia
