ITAT taxes Rs 6 crore TDR sale proceeds as capital gains after landowner dispute

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A landowner who surrendered land earmarked for a road received Transferable Development Rights (TDRs) in compensation. He later sold these TDRs to a builder for Rs 6.02 crore. The landowner did not pay income tax, arguing the proceeds were a non-taxable capital receipt. The Income Tax Appellate Tribunal (ITAT) ruled the amount is taxable as capital gains.

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