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2017 (6) TMI 1258 - ITAT BANGALOREComputation of long term capital gain - JDA - determining the cost of construction - actual cost of construction reported by the Developer v/s market value of the property as on the date of development agreement - Held that:- For the purposes of determining the cost of construction, in identical facts and circumstances of the case, the Hon’ble jurisdictional High Court in the case of Ved Prakash Rakhra (2012 (10) TMI 286 - KARNATAKA HIGH COURT), has held that the date of entering into JDA would be “the date” for the purposes of arriving at the cost of transfer i.e. cost of structure as on the date of agreement would be the cost of transfer instead of cost of actual construction in term of JDA - Decided in favour of assessee.
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