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Report No. 12

52. Option money received.-

Where any capital asset was on any previous occasion the subject of negotiations for its sale, exchange, relinquishment or transfer, any option or other money received and retained by the assessee in respect of such negotiations shall be deducted from the cost of acquisition or the written down value or the fair market value, as the case may be, in computing the statutory cost.

[Section 12B(2), 4th proviso]







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