ITAT Taxes Rs 6.02 Crore Capital Gains from TDR Sale
A landowner surrendered 2,839 square metres of land for road widening and received Transferable Development Rights (TDRs). He sold these TDRs to a builder for Rs 6 crore but did not pay income tax, believing the proceeds were non-taxable capital receipts. The Income Tax Appellate Tribunal (ITAT) ruled that the capital gains from this sale are taxable.
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