Capital gains chargeable when flats were sold though attached land was transferred later to co-operative society

INCOME TAX: Upon purchase of flat from builder, purchaser certainly acquires right or interest in proportionate share of land but its realisation is deferred till formation of co-operative society by flat owners and transfer of entire property to co-operative society; cost of of land is to be considered while computing capital gains in hands of builder

from www.taxmann.com Latest Case Laws https://ift.tt/37TU1Fo