https://www.taxtmi.com/caselaws?id=249256 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal regarding the taxability of long term capital gain from the sale of additional FSI/TDR. The dispute centered on whether the gain should be taxed in A.Y. 2003-04 or A.Y. 2004-05. Relying on legal interpretations and precedent cases, the Tribunal ruled in favor of the assessee, emphasizing the lack of a cost of acquisition for the rights assigned to the developer. This distinction led to the conclusion that the capital gain was not taxable, resulting in the dismissal of the Revenue's appeal. en-us Wed, 18 Jun 2014 00:00:00 +0530 Wed, 09 Jul 2014 09:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249256 The Tribunal upheld the CIT(A)'s decision, dismissing the Revenue's appeal regarding the taxability of long term capital gain from the sale of additional FSI/TDR. The dispute centered on whether the gain should be taxed in A.Y. 2003-04 or A.Y. 2004-05. Relying on legal interpretations and precedent cases, the Tribunal ruled in favor of the assessee, emphasizing the lack of a cost of acquisition for the rights assigned to the developer. This distinction led to the conclusion that the capital gain was not taxable, resulting in the dismissal of the Revenue's appeal. Case-Laws Income Tax Wed, 18 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249256