COURT: | Bombay High Court |
CORAM: | A. A. Sayed J, S. C. Dharmadhikari J |
SECTION(S): | 45, 48 |
GENRE: | Domestic Tax |
CATCH WORDS: | capital gains, FSI, TDR, Transferable Development Right |
COUNSEL: | Ajay Singh |
DATE: | December 11, 2014 (Date of pronouncement) |
DATE: | December 17, 2014 (Date of publication) |
AY: | 2007-08 |
FILE: | Click here to view full post with file download link |
CITATION: | |
S. 45/ 48: Gains on sale of TDR received as additional FSI as per the D. C. Regulations has no cost of acquisition and is not chargeable to capital gains |
Only an asset which is capable of acquisition at a cost would be included within the provisions pertaining to the head “Capital gains” as opposed to assets in the acquisition of which no cost at all can be conceived. In …
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