ITAT Grants Indexed Cost Benefit in JDA for Land and Constructed Area Rights

Suken Suresh Mehta Vs ITO (ITAT Mumbai) JDA Exchange Has a Cost — ITAT Allows Indexed Cost on Land & Constructed Area Rights The Mumbai Bench of the Income Tax Appellate Tribunal partly allowed the assessee’s appeal for AY 2022-23, holding that capital gains arising from a Joint Development Agreement (JDA) cannot be computed by denying the indexed cost of acquisition, both in respect of undivided land and the constructed area received in exchange. The assessee had acquired land in 1981 and entered into a JDA in 2013, under which 45% of undivided land was given to the developer in excha...