Taxability on Adverse possession
Krish Karaniya (23 Points)
07 June 2024
Capital gain tax on sale of property acquired through adverse possession
3 Replies
CA Anoop Kumar Sharma
(Accounts Manager)
(2065 Points)
Replied 07 June 2024
In my opinion, no capital gain is applicable because the courts have ruled that capital gain tax is not chargeable when the cost of acquisition is either nil or unascertainable. Many time decisions given by the Hon'ble Supreme Court and various High Courts across the country.
Krish Karaniya
(23 Points)
Replied 07 June 2024
What if cost of acquisition in not nil.And under which section it will not taxable if cost is nil.
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