LTCG Tax not payable on Sale of additional FSI : ITAT

Batliboi Limited Vs DCIT (ITAT Mumbai) Assessee has received total sum of Rs.11,14,00,000/- from single purchaser on sale of land (Rs.5,72,84,600/-), towards building (Rs.64,90,400/-) and sale of additional FSI (Rs.4,76,25,000/-). We find that the total sale consideration of Rs.11.14 Crores has not been doubted by the Revenue. Admittedly, the aforesaid break-up of consideration has been done by the assessee by relying on independent valuers report which is also not doubted by the Revenue. The said valuer had attributed a sum of Rs.4,76,25,000/- towards sale of additional FSI. Hence, the bifurc...