https://www.taxtmi.com/caselaws?id=251103 The Tribunal directed the Assessing Officer to provide consequential relief in charging interest under sections 234A and 234B. The consideration received from the sale of Transferable Development Rights was deemed taxable as business income. An addition of Rs. 4,00,00,000 as reimbursement of interest-free refundable deposit was upheld as income. Rs. 34,85,870 was disallowed due to lack of furnished details, except for feasibility study expenses. The appeal was admitted for adjudication on merits after verifying tax payments. ITA No. 149/Bang/2014 was partly allowed, ITA No. 150/Bang/2014 was dismissed, and ITA No. 151/Bang/2014 was allowed. en-us Thu, 28 Aug 2014 00:00:00 +0530 Thu, 04 Sep 2014 09:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251103 The Tribunal directed the Assessing Officer to provide consequential relief in charging interest under sections 234A and 234B. The consideration received from the sale of Transferable Development Rights was deemed taxable as business income. An addition of Rs. 4,00,00,000 as reimbursement of interest-free refundable deposit was upheld as income. Rs. 34,85,870 was disallowed due to lack of furnished details, except for feasibility study expenses. The appeal was admitted for adjudication on merits after verifying tax payments. ITA No. 149/Bang/2014 was partly allowed, ITA No. 150/Bang/2014 was dismissed, and ITA No. 151/Bang/2014 was allowed. Case-Laws Income Tax Thu, 28 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251103