https://www.taxtmi.com/caselaws?id=179661 Transfer of FSI/TDR or development rights under a development agreement is treated as a transfer of a capital asset and falls under the head capital gains rather than income from other sources. The Tribunal's reasoning was that such rights arise from the land itself, even where the land remains with the owner, and therefore the receipt is not mere compensation. However, because no ascertainable cost of acquisition was attributable to the transferred rights, capital gains could not be computed and no capital gains tax was payable on the transaction. en-us Fri, 14 May 2010 00:00:00 +0530 Wed, 16 Aug 2023 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179661 Transfer of FSI/TDR or development rights under a development agreement is treated as a transfer of a capital asset and falls under the head capital gains rather than income from other sources. The Tribunal's reasoning was that such rights arise from the land itself, even where the land remains with the owner, and therefore the receipt is not mere compensation. However, because no ascertainable cost of acquisition was attributable to the transferred rights, capital gains could not be computed and no capital gains tax was payable on the transaction. Case-Laws Income Tax Fri, 14 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179661