https://www.taxtmi.com/caselaws?id=118486 The Tribunal upheld the decision of the CWT(A) and dismissed the revenue's appeal. It was determined that the assessee acquired development rights for an adjacent area, not ownership of urban land, as the Floor Space Index (FSI) was specifically allotted for developing a garden and parking space with restrictions on building structures or selling the rights to others. The Tribunal clarified that the sum paid for these rights was not includable in the wealth of the assessee under the Wealth-tax Act. en-us Wed, 22 Feb 2006 00:00:00 +0530 Sun, 20 Jan 2013 20:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118486 The Tribunal upheld the decision of the CWT(A) and dismissed the revenue's appeal. It was determined that the assessee acquired development rights for an adjacent area, not ownership of urban land, as the Floor Space Index (FSI) was specifically allotted for developing a garden and parking space with restrictions on building structures or selling the rights to others. The Tribunal clarified that the sum paid for these rights was not includable in the wealth of the assessee under the Wealth-tax Act. Case-Laws Wealth-tax Wed, 22 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118486