society ltd

Capital gain tax on Transfer of redevelopment rights?

# As per the Development Control Regulations of the Municipal Corporation of Greater Bombay, 1991 (‘DCR’), in the case of redevelopment of existing buildings, an additional FSI is granted tothe land owner. The additional FSI can be utilised in the following manner:
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Principle of mutuality applicable when there is complete identity between the contributors and the participators

CASE LAW DETAILS Decided by: ITAT, MUMBAI BENCHES `E’, MUMBAI, In The case of: The Jai Hind Co-op Housing Society Ltd. V.ITO, Appeal No.: ITA NO. 88/Mum/2006,  Decided on: December 17, 2008 RELEVENT PARAGRAPH 7. We have the rival submissions and perused the records. During the year under consideration the assessee society had claimed as [...]
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