https://www.taxtmi.com/caselaws?id=401302 The Tribunal allowed the appeal, ruling that Transferable Development Rights (TDRs) do not qualify as "immovable property" under Sections 56(2)(vii)(b) and 50C of the Income Tax Act. Therefore, the additions made by lower authorities were overturned. The Tribunal emphasized the strict interpretation of deeming provisions, stating that TDRs should not be treated as land or building for taxation purposes. en-us Mon, 02 Nov 2020 00:00:00 +0530 Fri, 04 Dec 2020 08:03:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401302 The Tribunal allowed the appeal, ruling that Transferable Development Rights (TDRs) do not qualify as "immovable property" under Sections 56(2)(vii)(b) and 50C of the Income Tax Act. Therefore, the additions made by lower authorities were overturned. The Tribunal emphasized the strict interpretation of deeming provisions, stating that TDRs should not be treated as land or building for taxation purposes. Case-Laws Income Tax Mon, 02 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401302