https://www.taxtmi.com/caselaws?id=337551 Short-term capital gains arising from a joint development arrangement were required to be recomputed only on the amount actually received by the assessee, because the appellate authority had followed the binding jurisdictional High Court decision on identical facts. The Tribunal found no infirmity in that approach and rejected the Revenue's broader computation based on the full consideration stated in the arrangement, including alleged cash and kind. The issue was therefore decided in favour of the assessee and against the Revenue, with gain confined to the real receipt rather than the notional full consideration. en-us Thu, 05 Jan 2017 00:00:00 +0530 Wed, 11 Jan 2017 07:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337551 Short-term capital gains arising from a joint development arrangement were required to be recomputed only on the amount actually received by the assessee, because the appellate authority had followed the binding jurisdictional High Court decision on identical facts. The Tribunal found no infirmity in that approach and rejected the Revenue's broader computation based on the full consideration stated in the arrangement, including alleged cash and kind. The issue was therefore decided in favour of the assessee and against the Revenue, with gain confined to the real receipt rather than the notional full consideration. Case-Laws Income Tax Thu, 05 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337551