ITAT Bangalore Rules Sale of TDRs is Taxable Under Capital Gains

The Income Tax Appellate Tribunal (ITAT) in Bangalore has issued a ruling on the tax status of Transferable Development Rights (TDRs). It determined that proceeds from the sale of TDRs are taxable as capital gains. This decision clarifies the tax treatment for property developers and landowners who trade these development rights. The ruling was based on an appeal heard by the tribunal's Bangalore bench.