https://www.taxtmi.com/caselaws?id=798667 Permanent alternate accommodation allotted under a redevelopment arrangement in exchange for surrender of sub-tenancy or occupancy rights constitutes non-monetary consideration, not immovable property received without consideration. Sub-tenancy or occupancy rights are capital assets, and their relinquishment is a transfer; reciprocal contractual obligations prevent the allotment from being characterised as gratuitous merely because no cash payment or separate valuation of surrendered rights exists. Where the accommodation is neither received nor delivered in the relevant year, the provision is additionally inapplicable. A receipt governed by the capital-gains framework cannot be taxed under the residuary provision for property received without consideration. en-us Thu, 20 Aug 2026 00:00:00 +0530 Thu, 10 Sep 2026 08:51:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798667 Permanent alternate accommodation allotted under a redevelopment arrangement in exchange for surrender of sub-tenancy or occupancy rights constitutes non-monetary consideration, not immovable property received without consideration. Sub-tenancy or occupancy rights are capital assets, and their relinquishment is a transfer; reciprocal contractual obligations prevent the allotment from being characterised as gratuitous merely because no cash payment or separate valuation of surrendered rights exists. Where the accommodation is neither received nor delivered in the relevant year, the provision is additionally inapplicable. A receipt governed by the capital-gains framework cannot be taxed under the residuary provision for property received without consideration. Case-Laws Income Tax Thu, 20 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798667