Transfer of a portion of land in lieu of built-up area on retained land vid JDA was transfer u/s 2(47)(v)

Udai Hospitals Private Ltd. Vs ITO (ITAT Hyderabad) Conclusion: By virtue of JDA, assessee was parting with a portion of its land and in consideration thereof, was receiving built-up area on the land retained by it which was a transfer within the meaning of section 2(47)(v) however, AO was directed to re-compute the capital gain again by considering only elements which were necessary for the construction of the building as the cost of construction, and not the entire expenditure of the builder, including the compensation agreed to be paid to K and also the finance charges etc., which were not ...