https://www.taxtmi.com/caselaws?id=785550 Capital gain computation arising from a Joint Development Agreement where land was exchanged for constructed area is examined. ITAT reasoned that the assessee retained rights by receipt of 55% constructed area in exchange for 45% undivided land, obliging allowance of expenditure wholly and exclusively in connection with transfer, including indexed cost of acquisition and cost of construction as cost of improvement; the claim is restored to the file of the assessing officer for factual verification of fresh evidence and quantification of deductions. en-us Wed, 14 Jan 2026 00:00:00 +0530 Tue, 27 Jan 2026 07:36:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785550 Capital gain computation arising from a Joint Development Agreement where land was exchanged for constructed area is examined. ITAT reasoned that the assessee retained rights by receipt of 55% constructed area in exchange for 45% undivided land, obliging allowance of expenditure wholly and exclusively in connection with transfer, including indexed cost of acquisition and cost of construction as cost of improvement; the claim is restored to the file of the assessing officer for factual verification of fresh evidence and quantification of deductions. Case-Laws Income Tax Wed, 14 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785550