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...exists for transfer of any development rights. Under the said Scheme provisions have been made to grant FSI for the area gone under road to the extent of 40% of the final plot area provided the or...such surrender and the balance FSI remaining thereafter shall be allowed to be utilized as a development right in accordance with regulations governing transfer of development rights (TDRs) in Appendix...VII, or the full FSI on the land surrendered to the Corporation may be allowed to be used as a development right in accordance with the regulations governing transfer of development rights (TDRs) in...
...release of the land, the respondent Authority has to either pay compensation or accord Transfer of Development Rights in favour of the petitioner, strictly in accordance with the procedure..... Under these circumstances, the writ petition is disposed of directing the respondent Corporation to consider the application to be filed by the petitioner for according Transfer of development rights-TDR...benefit and if it is not possible, pay compensation accordingly. Such application for transfer of development rights shall be presented within four weeks from today and after submission of...
...Directors of the petitioner company decided to transfer the development rights of the aforesaid property to a third party. Accordingly, agreement to transfer the development ...development rights in the property in question. The assessing officer after detailed investigation and after obtaining full particulars from the assessee passed an order under Section 143(3) of the Act assessing the capital...arriving at such conclusion was that firstly that there was no transfer of land and therefore indexation in respect of the cost of land was not allowable to the assessee. Secondly, the Board of Directors h...
...the Chennai Metropolitan Development Authority "in lieu of Transfer of Development Rights applicable under the Development Regulation" No.9 r/w. Annexure XXI of the ...ground that there is a consideration in favour of the appellant as the appellant is getting the Transfer of Development Rights. The said proceedings were challenged before the second respondent...of CMDA/CMRL even when there is a consideration in the form of transfer of development rights involved and the said G.O. is made retrospectively applicable from 03.12.1997. When the said G.O. is...
...Development Authority "in lieu of Transfer of Development Rights applicable under the Development Regulation" No.9 r/w. Annexure XXI of the Development Regulation formin...appellant as the appellant is getting the Transfer of Development Rights. The said proceedings were challenged before the second respondent. Thereafter, final order was passed on 12.12.2014 denying...and registration fee exemption is given to any instrument executed for public purpose in favour of CMDA/CMRL even when there is a consideration in the form of transfer of development rights involv...
...assessment proceedings the AO found that in the return of income filed by the assessee a sum of Rs.3.04 crores has been shown in the exempted income column which include receipt on account of transfer of ....
3. Ld. CIT(A) did not accept such submission of the assessee and has also enhanced the assessment by treating the value of 3 ½ flats as additional consideration of transfer ...Ld. CIT(A) the assessee has filed aforementioned grounds.
4. It was submitted by Ld. AR that at the first place no capital gain could be charged on transfer of development rights and...
...erred in holding that the sum of Rs.11,84,72,772/- received on account of transfer of development rights in the underlying land as taxable in the captioned assessment year. Such conclusions are.... 11,84,72,772/- has not accrued to the appellant in the year under consideration. 3. The act of transferring development rights in the land being subject to various obligations on the part...development rights by ignoring the land development expenses of Rs.4,39,51,811/- is wrong. Such land development expenses are fully allowable while determining the profit arising from transfer ...
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2019.
15. It is submitted that even as per the Tamil Nadu Combined Development and Building Rules, 2019, Transfer of ...such amount, by granting the landowner the transfer of development rights against the area of land surrendered free of cost and free from all encumbrances, and also further...additional floor space index or transfer of development rights against the development or construction of the amenity on the surrendered land and his cost, in such manner ...
....
That the transfer of development rights in Land by the laMowners tothe Petitioner as contemplated under
'the
JDA (enclosed as...annexure P.1) to the extent such notifications seek to impose GST on transfer of development rights in land by the landowner under a JDA, essentially resulting in the sale of land by the landowner, to be...extent such notifications seek to impose GST on transfer of development rights in land by the landowner under a JDA, essentially resultingin the sale ofland by the landowner, to be...
...erred in holding that the sum of Rs.11,84,72,772/- received on account of transfer of development rights in the underlying land as taxable in the captioned assessment year. Such conclusions are.... 11,84,72,772/- has not accrued to the appellant in the year under consideration. 3. The act of transferring development rights in the land being subject to various obligations on the part...development rights by ignoring the land development expenses of Rs.4,39,51,811/- is wrong. Such land development expenses are fully allowable while determining the profit arising from transfer ...
...Development Authority "in lieu of Transfer of Development Rights applicable under the Development Regulation" No.9 r/w. Annexure XXI of the Development Regulation formin...favour of the appellant as the appellant is getting the Transfer of Development Rights. The said proceedings were challenged before the second respondent. Thereafter, final order was passed on...transfer of development rights involved and the said G.O. is made retrospectively applicable from 03.12.1997. When the said G.O. is applicable from 03.12.1997 retrospectively, the appellant has to...
...50c of the it act are applicable to transfer of development rights nad thereby direct ing the assessing officer to adopt the valuation under section 50C of the Act, as sale considerat ion, for the...valuation made by Stamp Valuation Authority. The assessee challenged the order of the AO before the CIT(A) and raised the issue of taking the stamp duty value as sale consideration for transfer of the ...has submitted that this is not a case of transfer of land or other capital asset but i t was a case of transfer of development rights of the property. Therefore, the pro...
...M/s. Graceland Housing Pvt Ltd on 11th November 1999, for transfer of development rights in respect of the land. In lieu thereof, the Appellant was to receive a sum of Rs.10,00,000/- from each...in the facts and circumstances of the present case. The transaction is of Transfer of the rights in the property and to the extent of the assessee's share.5. Such findings .... The assessee has 10% undivided share, right, title and interest in a plot of land along with co-owners. She entered into two separate development agreements with M/s Karasha Constructions Pvt Ltd and...
...upheld the view of the AO to treat the transaction as income for capital gains for the AY 2009-2010. The CIT (A) also discarded the submissions made by the assessee that transfer of development rights were...made in FY 2008-2009 pursuant to the MOU dated 27.12.2007. In the absence of proof to buttress such claim, the CIT (A) also discarded the claim of the assessee that value of the transfer of ...recorded that there was not even a single sale during all these years and there were negligible expenses and the transaction in question was the only transaction i.e., transfer of development rights in...
...an addition of Rs.9,51,50,500/- on account of transfer of development rights and further addition of Rs.6,81,60,200/- had been made on account of disallowance of expense...appeal the CIT(A) reduced addition on account of capital gain from transfer of development rights to Rs.2,17,88,000/- but disallowance of expenses had been confirmed. The total demand payable...gain on transfer of development rights and disallowance of expenses relating to payment to minority share holders. The AO had made addition of Rs.9,51,50,500/- on account of capital gain ...
...portion of the private property belonging to private persons on either side of the road, they had called upon the petitioners to consider their offer to accept the TDR (Transfer of Development ...to be the owners of properties and in possession of residential sites. The present writ petition has been filed seeking for issuance of writ of certiorari to quash the notice at Annexure-C series...dated 22.06.2017, whereby the petitioners were called upon to attend the meeting and express their opinion as owners as regards acceptance or otherwise of TDR certificate. 4. Notice...
...05.01.2002
Shri Raghunath Shankar Potnis (assessee's paternal uncle) entered into agreement for sale of development rights in S. No. 29, Hissa No. 2, Village Hingne Budruk, Pune with Kumar & Potnis Pvt. Ltd. The ag...Potnis Capital Gains of Rs. 9700000 on transfer of Development rights in 1447 sq. mts. FSI corresponding Building No. A-2 in the subject property declared subject to exemption u/s. 54EC for investment in...-2005 I.T return of Shri S.V Vinchurkar Capital Gains of Rs. 9752740 on transfer of Development rights in 1545 sq. mts. FSI corresponding to Building Nos. A-2 in the subject property decl...