https://www.taxtmi.com/caselaws?id=794991 Transfer of Transferable Development Rights or a Development Right Certificate for Assessment Year 2016-17 was outside the capital gains charge because sections 45 and 48 require an ascertainable cost of acquisition or a statutory deeming mechanism. The statutory entitlement was not acquired for monetary consideration, and the pre-amendment cost provision did not cover development rights or prescribe their cost. The later inclusion of other intangible assets or rights applied prospectively from Assessment Year 2024-25. Consequently, failure of the computation mechanism meant that the capital gains charge did not arise; alternative exemption and valuation issues remained academic. en-us Wed, 01 Jul 2026 00:00:00 +0530 Wed, 15 Jul 2026 08:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794991 Transfer of Transferable Development Rights or a Development Right Certificate for Assessment Year 2016-17 was outside the capital gains charge because sections 45 and 48 require an ascertainable cost of acquisition or a statutory deeming mechanism. The statutory entitlement was not acquired for monetary consideration, and the pre-amendment cost provision did not cover development rights or prescribe their cost. The later inclusion of other intangible assets or rights applied prospectively from Assessment Year 2024-25. Consequently, failure of the computation mechanism meant that the capital gains charge did not arise; alternative exemption and valuation issues remained academic. Case-Laws Income Tax Wed, 01 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794991