By proposing an amendment to section 56 by introducing new clause after sub-section (2), after clause (viii) of 56, by inserting with effect from the 1st day of April, 2015, namely:
—any sum of money received as an advance or otherwise in the course of negotiations for
transfer of a capital asset, if,––
(a) such sum is forfeited; and
(b) the negotiations do not result in transfer of such capital asset.
The Finance Bill (No.2 ), 2014 has tried to plug another loop hole in the act of receiving advance against Capital asset against which deals are at all not executed
—any sum of money received as an advance or otherwise in the course of negotiations for
transfer of a capital asset, if,––
(a) such sum is forfeited; and
(b) the negotiations do not result in transfer of such capital asset.
The Finance Bill (No.2 ), 2014 has tried to plug another loop hole in the act of receiving advance against Capital asset against which deals are at all not executed
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