Held that sale of additional FSI for which no cost was incurred hence not exigible for long term capital gains. The said receipt cannot be assessed as book profit merely on the ground that the assessee has offered it in the return of income. (ITA No. 6228/Mum/2017, dt. 21-5-2021). (AY. 2013-14)
Batliboi Ltd. v. ITO (2021) 62 CCH 160 (Mum.)(Trib.)
S. 115JB : Book profit-Capital receipt-A particular receipt cannot be assessed as book profit merely on the ground that the assessee has offered it in the return of income. [S. 2(24),4]