Addition of different amounts made towards amount received for ...

Case Laws Income Tax

December 20, 2021

Addition of different amounts made towards amount received for sale of Transferable Developmental Rights (TDR) - Income or current liability - assessee’s income from TDR cannot be considered independently without taking the corresponding expenses, more so, when the TDR receipts are directly linked to the execution of the project. The Bench has held that since income from TDR is inextricably linked to the project and its cost, the cost of building has to be deducted against the income from sale of TDR. - AT

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Addition of different amounts made towards amount received for ...

Case Laws Income Tax

December 20, 2021

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