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2019 (4) TMI 1121 - HC - Income TaxComputation of capital gain - TDR/FSI value inclusion - assessee had merely transfered reversionary right in the lease land - acquisition of which no cost at all can be conceived - HELD THAT:- This issue is covered by a decision of this Court in COMMISSIONER OF INCOME TAX-18 VERSUS SAMBHAJI NAGAR CO-OP- HSG. SOCIETY LTD. [2014 (12) TMI 1069 - BOMBAY HIGH COURT] FSI/TDR was generated by the plot itself. There was no cost of acquisition, which has been determined and on the basis of which the Assessing Officer could have proceeded to levy and assess the gains derived as capital gains. Assessee had not incurred any cost of acquisition in respect of the right which emanated from 1991 Rules, making the Assessee eligible to additional FSI. The land and building earlier in the possession of the Assessee continued to remain with it. Even after the transfer of the right or the additional FSI, the position did not undergo any change. The Revenue could not point out any particular asset as specified in subsection (2) of section 55. - Decided against revenue.
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