https://www.taxtmi.com/caselaws?id=785220 Classification between tenant ownership and tenant co-partnership societies determines legal versus beneficial ownership of flats; where legal ownership vests in individual flat owners, consideration received from redevelopment or developer for additional construction rights accrues to members and not to the society, hence cannot be taxed as long-term capital gain in the society addition deleted. Transferable development rights created by DCR/FSI changes without ascertainable cost of acquisition do not give rise to capital gains in the society. Claim for cooperative-society interest deduction was remitted for verification of receipt and allowed provisionally; assessment status corrected from AOP to society for tax purposes. en-us Mon, 22 Dec 2025 00:00:00 +0530 Tue, 20 Jan 2026 06:31:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785220 Classification between tenant ownership and tenant co-partnership societies determines legal versus beneficial ownership of flats; where legal ownership vests in individual flat owners, consideration received from redevelopment or developer for additional construction rights accrues to members and not to the society, hence cannot be taxed as long-term capital gain in the society addition deleted. Transferable development rights created by DCR/FSI changes without ascertainable cost of acquisition do not give rise to capital gains in the society. Claim for cooperative-society interest deduction was remitted for verification of receipt and allowed provisionally; assessment status corrected from AOP to society for tax purposes. Case-Laws Income Tax Mon, 22 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785220