https://www.taxtmi.com/caselaws?id=796390 For capital-gains computation under a joint development agreement, deemed consideration is described as being based on the stamp-duty circle-rate-supported construction value rather than an estimated construction cost stated in the agreement. Residential flats allotted and retained by the taxpayer may qualify for capital-gains exemption where gains are taxed on deemed transfer before consideration is received, subject to verification of construction completion. Capital gains on later sale of those flats require recomputation after resolving the earlier exemption claim and cost of acquisition. Penalty for concealment cannot independently persist where the underlying addition is deleted or remains subject to fresh verification. en-us Wed, 01 Jul 2026 00:00:00 +0530 Wed, 05 Aug 2026 08:48:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796390 For capital-gains computation under a joint development agreement, deemed consideration is described as being based on the stamp-duty circle-rate-supported construction value rather than an estimated construction cost stated in the agreement. Residential flats allotted and retained by the taxpayer may qualify for capital-gains exemption where gains are taxed on deemed transfer before consideration is received, subject to verification of construction completion. Capital gains on later sale of those flats require recomputation after resolving the earlier exemption claim and cost of acquisition. Penalty for concealment cannot independently persist where the underlying addition is deleted or remains subject to fresh verification. Case-Laws Income Tax Wed, 01 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796390