Held that sale of additional FSI for which no cost was incurred hence not exigible for long term capital gains. Followed CIIT v. Kailash Jyoti No. 2 CHS and Ors. ITA No. 1607 of 2013 dt. 24-4-2015 (Bom)(HC) (ITA No. 6228 /Mum/ 2017, dt. 21-5-2021) (AY. 2013-14)
Batliboi Ltd. v. ITO (2021) 62 CCH 160 (Mum.)(Trib.)
S. 4 : Charge of income-tax-Sale of FSI-Development Control Regulation (DCR)-Capital receipt-Not assessable as long term capital gains. [S. 2(24), 45]