https://www.taxtmi.com/caselaws?id=342419 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to reconsider the disallowance of the amount written off towards transferable development rights. The Tribunal found merit in the appellant's argument that the TDR was brought into the firm as capital contribution and treated as stock in trade before being written off. It emphasized the need for a fresh assessment based on the evidence provided by the assessee, setting aside the First Appellate Authority's decision for lack of proper consideration of the documents related to TDR. en-us Wed, 05 Apr 2017 00:00:00 +0530 Thu, 04 May 2017 07:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342419 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to reconsider the disallowance of the amount written off towards transferable development rights. The Tribunal found merit in the appellant's argument that the TDR was brought into the firm as capital contribution and treated as stock in trade before being written off. It emphasized the need for a fresh assessment based on the evidence provided by the assessee, setting aside the First Appellate Authority's decision for lack of proper consideration of the documents related to TDR. Case-Laws Income Tax Wed, 05 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342419