CA NeWs Beta*: No capital gain on transfer of transferable development rights as its cost of acquisition couldn't be determined

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Tuesday, February 24, 2015

No capital gain on transfer of transferable development rights as its cost of acquisition couldn't be determined

February 23, 2015[2015] 54 taxmann.com 77 (Bombay)
IT : Where assessee had not incurred any cost to acquire TDR attached to land owned by society, transfer of same to developer for consideration for construction of a floor space index would not be eligible to capital gains tax

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