https://www.taxtmi.com/caselaws?id=751807 Bombay HC ruled in favor of appellant regarding treatment of additional TDR compensation. The court held that additional amount received under developer's commitment letter should be treated as part of original development agreement consideration, qualifying for LTCG treatment rather than income from other sources. HC found ITAT erred in confirming Assessing Officer's view, noting Revenue failed to verify letter's genuineness despite developer's signature and substantial payment made. The commitment letter and development agreement should be read as one transaction, with additional compensation treated as LTCG assessable when received. en-us Fri, 19 Apr 2024 00:00:00 +0530 Thu, 29 Aug 2024 11:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751807 Bombay HC ruled in favor of appellant regarding treatment of additional TDR compensation. The court held that additional amount received under developer's commitment letter should be treated as part of original development agreement consideration, qualifying for LTCG treatment rather than income from other sources. HC found ITAT erred in confirming Assessing Officer's view, noting Revenue failed to verify letter's genuineness despite developer's signature and substantial payment made. The commitment letter and development agreement should be read as one transaction, with additional compensation treated as LTCG assessable when received. Case-Laws Income Tax Fri, 19 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751807