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2015 (2) TMI 893 - ITAT PUNE
Capital gain - transfer of development rights in land near PARVATI, Pune - Held that:- The assessee has not given the possession of the property in question to the developer for F.Y. 2008-09 (A.Y. 2009-10) and hence, there is no transfer within the meaning of Sec. 45 r.w.s. 2(47)(v) of the Act. CIT(A)-II, Pune erred in law and on facts in confirming the taxability of receipt as capital gains and holding that the said amount is part consideration arising from transfer of development rights in land near PARVATI, Pune. - Decided in favour of assessee.