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TMI Blog2015 (11) TMI 400X X X X Extracts X X X X X X X X Extracts X X X X ..... r.Abhay Ahuja a/w Mr.Padma Divakar for the Appellant Mr. Atul K. Jasani for the Respondent ORDER P.C. : 1. In these five appeals there are common questions involved although the questions have variations. The core issue is whether acquisition of TDR (additional FSI) would amount to capital gains in the case at hand. We would refer to the facts in Income Tax Appeal No.1607 of 2013 in w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itional four floors upto 8th floor from 4th floor which formed part of the society's building. In terms of the agreement the developers agreed to pay a sum of Rs. 700/- per sq. ft. for the additional FSI/TDR consumed for construction from 4th floor to 8th floor. The society received a sum of 1,62,60,756/-. The undisputed facts are that in respect of the additional FSI which the appellant socie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t, 1961 and Transfer of Property Act. It is in these circumstances that the present question has been referred to us. 4. We find that the issue at hand, is already decided by this Court in the matter of the Commissioner of Income Tax Vs. Sambhaji Nagar Co-operative Housing Society Ltd. vide judgment dated 11th December, 2014 to which one of us (Shri S.C. Dharmadhikari, J.) was a party. In that ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pposed to assets in the acquisition of which there was no cost at all. In that case, as in the present case, the situation was that the FSI/TDR was generated by the plot itself. There was no cost of acquisition in any of the appeals before us. Accordingly, following the view taken in Sambhaji Nagar Co-operative Housing Society Ltd., we find that none of the questions proposed by the Appellant rais ..... X X X X Extracts X X X X X X X X Extracts X X X X
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