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2010 (1) TMI 829 - AT - Income TaxReceipts on sale of TDR treated as capital receipts - AO noted that while entering into the joint venture agreement with M/s Star Erectors P Ltd, the assessee company, as per clause 19 of the said agreement has specifically excluded the rights of TDR from the ambit of the joint venture - AO has not agreed with the appellant company that there is no long term capital gain on the sale of TDR rights - Held that:- receipts on sale of assignment of rights to receive TDRs were not liable to tax, there was no cost of TDR, claim of the assessee allowed.
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