https://www.taxtmi.com/caselaws?id=312448 The HC of Bombay dismissed the Revenue's appeal concerning the taxability of the amount received by a society for granting developer rights for the Assessment Year 1997-98. The Tribunal had determined that the amount received from the transfer of Transferable Development Rights (TDR) was actually received by the society's members, who had declared it in their individual tax returns. The Revenue did not challenge this factual finding, leading the HC to dismiss the appeal without costs, upholding the Tribunal's decision that the society itself was not taxable for the amount received. en-us Wed, 27 Feb 2013 00:00:00 +0530 Mon, 19 Feb 2024 10:25:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312448 The HC of Bombay dismissed the Revenue's appeal concerning the taxability of the amount received by a society for granting developer rights for the Assessment Year 1997-98. The Tribunal had determined that the amount received from the transfer of Transferable Development Rights (TDR) was actually received by the society's members, who had declared it in their individual tax returns. The Revenue did not challenge this factual finding, leading the HC to dismiss the appeal without costs, upholding the Tribunal's decision that the society itself was not taxable for the amount received. Case-Laws Income Tax Wed, 27 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312448