The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the sale of FSI/ Transfer of Developmental Rights would not attract capital gain under the Income Tax Act, 1961. During the relevant assessment year, the assessee has sold TDR/FSI development rights for Rs.2.50 crore which was claimed as exempt from income tax. […]
The post Capital Gain won’t attract on Sale of FSI / Transfer of Developmental Rights: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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