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2015 (1) TMI 429 - GUJARAT HIGH COURTCapital asset - Construction of theatres on leased land - whether, on the facts and in the circumstances of the case, and in law, the Income Tax Appellate Tribunal is right in coming to the conclusion that "Floor Space Index" is a capital asset - Held that:- Floor Space Index is an asset which is attached with the property and not with the business. Therefore, we are of the considered opinion that the Tribunal has not committed any error in dismissing the appeal of the revenue. - Decided against Revenue.
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