Amount forfeited by buyer cannot be taxed only actual receipt can be taxed

Amarjeet Kaur Vs ACIT (ITAT Delhi)

In the present facts of the case in the first part, the assessee is an individual and during the course of assessment proceedings, the AO noted that the assessee has claimed capital gain on sale of her undivided 12.5% share which was sold for Rs.74 lacs to her son and her son has purchased the undivided 25% share of the said property from his uncle at Rs.2,40,00,000/-. According to the AO, the rate at which it is sold by the assessee is under valued and made addition of Rs.45.50 lakhs.

In another part, the AO no

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