‘Development Right’ is business asset; no capital gain arises on sum received on its transfer: ITAT

INCOME TAX : Where, assessee, a civil contractor, transferred development rights of a property to a builder and received part payment for same, provisions of section 2(47)(v) would not apply to said transaction as same were applicable only in case of capital assets held by assessee

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000195042/‘development-right’-is-business-asset-no-capital-gain-arises-on-sum-received-on-its-transfer-itat.aspx