https://www.taxtmi.com/caselaws?id=254726 Whether sale of Transfer of Development Rights (TDR)/additional FSI constitutes a capital asset chargeable to capital gains tax. Relying on the principle that a capital asset must be "capable of acquisition at a cost" (Cadell precedent) and on ITAT precedent, the court found the additional FSI/TDR was generated by the land under development control rules and had no ascertainable cost of acquisition; amendments to s.55(2)(a) regarding tenancy rights did not render the right an acquired asset here. Consequence: the gains were not taxable as long-term capital gains and the Tribunal's order upholding non-chargeability is affirmed against Revenue. en-us Thu, 11 Dec 2014 00:00:00 +0530 Sat, 17 Jan 2026 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254726 Whether sale of Transfer of Development Rights (TDR)/additional FSI constitutes a capital asset chargeable to capital gains tax. Relying on the principle that a capital asset must be "capable of acquisition at a cost" (Cadell precedent) and on ITAT precedent, the court found the additional FSI/TDR was generated by the land under development control rules and had no ascertainable cost of acquisition; amendments to s.55(2)(a) regarding tenancy rights did not render the right an acquired asset here. Consequence: the gains were not taxable as long-term capital gains and the Tribunal's order upholding non-chargeability is affirmed against Revenue. Case-Laws Income Tax Thu, 11 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254726