He gave land given for road, sold TDRs for Rs 6.02 crore; ITAT taxes capital gains
The landowner chose to sell the TDRs he had received for surrendering 2,839 square metres of land.
He sold them to a builder for Rs 6 crore but did not pay income tax on the proceeds.
His understanding was that the amount received from the sale was a capital receipt and was therefore not taxable.
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