https://www.taxtmi.com/caselaws?id=214063 The Tribunal upheld the validity of the assessment under section 143(3) read with section 147. However, it ruled in favor of the assessee regarding the taxability of the receipt from the sale of Transferable Development Rights (TDR), holding that no capital gains could be computed due to the absence of a cost of acquisition. The appeal was partly allowed, with the Tribunal deleting the addition made by the Assessing Officer and confirmed by the CIT(A) on account of capital gains from the sale of TDR. en-us Fri, 30 Mar 2012 00:00:00 +0530 Wed, 13 Apr 2016 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214063 The Tribunal upheld the validity of the assessment under section 143(3) read with section 147. However, it ruled in favor of the assessee regarding the taxability of the receipt from the sale of Transferable Development Rights (TDR), holding that no capital gains could be computed due to the absence of a cost of acquisition. The appeal was partly allowed, with the Tribunal deleting the addition made by the Assessing Officer and confirmed by the CIT(A) on account of capital gains from the sale of TDR. Case-Laws Income Tax Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214063