https://www.taxtmi.com/caselaws?id=373380 The court dismissed the tax appeal, holding that the compensation received from the transfer of development rights cannot be taxed as capital gain due to the absence of a cost of acquisition. The court emphasized that without a cost of acquisition, the Transferable Development Rights (TDR) generated cannot be considered taxable as capital gain. The court did not address the issue of exemption under section 54 of the Income Tax Act as the focus was on the taxability of TDR without a cost of acquisition. en-us Mon, 07 Jan 2019 00:00:00 +0530 Fri, 02 Aug 2019 19:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373380 The court dismissed the tax appeal, holding that the compensation received from the transfer of development rights cannot be taxed as capital gain due to the absence of a cost of acquisition. The court emphasized that without a cost of acquisition, the Transferable Development Rights (TDR) generated cannot be considered taxable as capital gain. The court did not address the issue of exemption under section 54 of the Income Tax Act as the focus was on the taxability of TDR without a cost of acquisition. Case-Laws Income Tax Mon, 07 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373380