https://www.taxtmi.com/caselaws?id=299174 The appeal was allowed by the Tribunal in a case regarding the taxability of income earned by a Cooperative Housing Society and its members as long term capital gains. The society received a lump sum amount from a developer for constructing additional floors on the building, which the Assessing Officer considered as a transfer of right and taxed as capital gains. The Tribunal ruled that no existing right was transferred, and no cost was incurred before granting permission, concluding that the amount received was not assessable as long term capital gains. en-us Fri, 28 Aug 2009 00:00:00 +0530 Mon, 06 Dec 2021 11:33:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299174 The appeal was allowed by the Tribunal in a case regarding the taxability of income earned by a Cooperative Housing Society and its members as long term capital gains. The society received a lump sum amount from a developer for constructing additional floors on the building, which the Assessing Officer considered as a transfer of right and taxed as capital gains. The Tribunal ruled that no existing right was transferred, and no cost was incurred before granting permission, concluding that the amount received was not assessable as long term capital gains. Case-Laws Income Tax Fri, 28 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299174