Portion of money retained in Escrow account to be taken into consideration for computing capital gains: HC

INCOME TAX : Where Business Sale Agreement was entered into between assessee and purchaser for selling of right, title and interest in the business carried out by assessee for a lump sum consideration and after having agreed upon full and final consideration, parties agreed to retain a particular amount of money in an Escrow account, since possession of asset was handed over to assessee and entire amount has been received by assessee without any deductions,INCOME TAX : Where Business Sale Agreement was entered into between assessee and purchaser for selling of right, title and interest in the business carried out by assessee for a lump sum consideration and after having agreed upon full and final consideration, parties agreed to retain a particular amount of money in an Escrow account, since possession of asset was handed over to assessee and entire amount has been received by assessee without any deductions,www.taxmann.com Latest Case LawsRead More

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