https://www.taxtmi.com/caselaws?id=394655 Transfer of development rights and additional FSI received in redevelopment does not give rise to taxable capital gains where no cost of acquisition was incurred and the asset does not fall within a deeming provision. The computation scheme under the Income-tax Act requires an ascertainable cost of acquisition for capital gains taxation; an asset acquired without such cost cannot be brought to tax as capital gains on transfer. On that basis, the addition was deleted and the assessee's position was accepted. en-us Mon, 10 Feb 2020 00:00:00 +0530 Sat, 18 Apr 2020 22:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394655 Transfer of development rights and additional FSI received in redevelopment does not give rise to taxable capital gains where no cost of acquisition was incurred and the asset does not fall within a deeming provision. The computation scheme under the Income-tax Act requires an ascertainable cost of acquisition for capital gains taxation; an asset acquired without such cost cannot be brought to tax as capital gains on transfer. On that basis, the addition was deleted and the assessee's position was accepted. Case-Laws Income Tax Mon, 10 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394655