https://www.taxtmi.com/caselaws?id=188294 Capital gains under a development arrangement are to be computed on the basis of consideration actually received and accrued in each stage, where possession and development rights are transferred progressively and the agreement itself allows adjustment if the available FSI is lower than estimated. The stated full consideration cannot be taxed as a hypothetical single receipt when the actual transfer and payment occur in stages. The note also records that a claim for deduction of legal and related expenditure was not adjudicated on merits by the first appellate authority and required fresh consideration on the written submissions and claim record. en-us Mon, 17 Aug 1998 00:00:00 +0530 Thu, 24 Nov 2016 18:14:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188294 Capital gains under a development arrangement are to be computed on the basis of consideration actually received and accrued in each stage, where possession and development rights are transferred progressively and the agreement itself allows adjustment if the available FSI is lower than estimated. The stated full consideration cannot be taxed as a hypothetical single receipt when the actual transfer and payment occur in stages. The note also records that a claim for deduction of legal and related expenditure was not adjudicated on merits by the first appellate authority and required fresh consideration on the written submissions and claim record. Case-Laws Income Tax Mon, 17 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188294