https://www.taxtmi.com/caselaws?id=205609 The Tribunal upheld the decision in favor of the assessee, determining that the receipts from the transfer of development rights constituted capital gains and qualified for exemptions under sections 54 and 54EC of the Income Tax Act. The Revenue's challenge regarding the nature of the built-up area received was dismissed as the Tribunal found the issue debatable and not a mistake apparent from the record. The attempt to restrict the exemption to one unit was rejected, affirming the original ruling in favor of the assessee. en-us Thu, 04 Nov 2010 00:00:00 +0530 Sat, 23 Jul 2016 11:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205609 The Tribunal upheld the decision in favor of the assessee, determining that the receipts from the transfer of development rights constituted capital gains and qualified for exemptions under sections 54 and 54EC of the Income Tax Act. The Revenue's challenge regarding the nature of the built-up area received was dismissed as the Tribunal found the issue debatable and not a mistake apparent from the record. The attempt to restrict the exemption to one unit was rejected, affirming the original ruling in favor of the assessee. Case-Laws Income Tax Thu, 04 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205609