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HANDWRITTEN. 18. (a) Mr. Singh purchased a residential property in Mumbai in the year 1994 for 35,75,000. In 1999-2000, he remodeled the property by spending

HANDWRITTEN.

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18. (a) Mr. Singh purchased a residential property in Mumbai in the year 1994 for 35,75,000. In 1999-2000, he remodeled the property by spending 2,50,000. On 1.4.2004 he entered into an agreement with Mr. Vinay for sale of the property for 8,52,000 [the fair market value as on 1-4-2001 is 26,00,000) and received an advance of

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