https://www.taxtmi.com/caselaws?id=332956 The court ruled in favor of the assessee regarding the addition of income from the sale of Transferable Development Right (TDR), finding it non-taxable as the TDR was not in existence at the time of land purchase. However, the court sided with the revenue in disallowing 5% of expenses due to lack of third-party evidence. Penalty proceedings were not pursued as no penalty was levied. The appeal was partly allowed, with the decision announced on 19th August 2016. en-us Fri, 19 Aug 2016 00:00:00 +0530 Fri, 30 Sep 2016 07:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332956 The court ruled in favor of the assessee regarding the addition of income from the sale of Transferable Development Right (TDR), finding it non-taxable as the TDR was not in existence at the time of land purchase. However, the court sided with the revenue in disallowing 5% of expenses due to lack of third-party evidence. Penalty proceedings were not pursued as no penalty was levied. The appeal was partly allowed, with the decision announced on 19th August 2016. Case-Laws Income Tax Fri, 19 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332956