https://www.taxtmi.com/caselaws?id=251065 The High Court upheld the applicability of Section 2(47) clause (v) of the Income Tax Act, 1961 in a case involving the transfer of development rights in a plot of land. The court affirmed the Tribunal's decision that the transaction constituted a transfer of rights in the property, based on the facts presented and the assessee's admission. Finding no error in the concurrent findings of fact, the court dismissed the appeal, stating that no substantial question of law arose. The attempt to introduce new questions during the appeal was rejected, and the appeal was ultimately dismissed. en-us Thu, 10 Jul 2014 00:00:00 +0530 Wed, 03 Sep 2014 09:46:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251065 The High Court upheld the applicability of Section 2(47) clause (v) of the Income Tax Act, 1961 in a case involving the transfer of development rights in a plot of land. The court affirmed the Tribunal's decision that the transaction constituted a transfer of rights in the property, based on the facts presented and the assessee's admission. Finding no error in the concurrent findings of fact, the court dismissed the appeal, stating that no substantial question of law arose. The attempt to introduce new questions during the appeal was rejected, and the appeal was ultimately dismissed. Case-Laws Income Tax Thu, 10 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251065