https://www.taxtmi.com/caselaws?id=287076 Consideration received for permitting a developer to use TDR/FSI rights on land was held not chargeable to capital gains because those rights arose under development regulations and had no ascertainable cost of acquisition. The receipt was therefore outside the capital gains head as a self-generated or indeterminate-cost right. On timing, the transfer was treated as effective only when the contractual conditions for payment and possessory rights were satisfied, so the receipt was assessable in A.Y. 2004-05 and not A.Y. 2002-03. The additions based on capital gains taxation in A.Y. 2002-03 were not sustained. en-us Fri, 04 Aug 2017 00:00:00 +0530 Sat, 28 Mar 2020 10:05:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287076 Consideration received for permitting a developer to use TDR/FSI rights on land was held not chargeable to capital gains because those rights arose under development regulations and had no ascertainable cost of acquisition. The receipt was therefore outside the capital gains head as a self-generated or indeterminate-cost right. On timing, the transfer was treated as effective only when the contractual conditions for payment and possessory rights were satisfied, so the receipt was assessable in A.Y. 2004-05 and not A.Y. 2002-03. The additions based on capital gains taxation in A.Y. 2002-03 were not sustained. Case-Laws Income Tax Fri, 04 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287076