Assessee purchased Transferable Development Right (TDR) in a land.  He further sold a portion of such right for a consideration of Rs. 1.14 crores.  Assessing Officer held that as per section 50C sale consideration was recorded at Rs. 5.16 crores. Accordingly he treated differential amount of Rs. 4.02 crores as deemed consideration and liable for taxation under section 56(2)(vii)(b) as income from other sources in hands of assessee. CIT (A) affirmed the order of the Assessing Officer. On appeal the Tribunal held that  capital asset transferred by assessee was development rights held by it in a land and not that land itself, provisions of section 50C would not be applied upon impugned transaction. (AY. 2014-15)