ITAT Bangalore Rules TDR Sale Taxable as Capital Gains
The Income Tax Appellate Tribunal (ITAT) Bangalore ruled that the sale of Transferable Development Rights (TDR) is taxable as capital gains. The case involved a landowner who gave up 2,839 sq. metres of land to BBMP and received TDRs, which were then sold to a builder for Rs 6 crore. The Income Tax Department issued a notice, leading to the ITAT's decision.
Economic Times··Bangalore




