The Economic Times

Landowner gets Rs 6 crore by selling TDRs received for giving up land for road widening, pays no tax; ITAT Bangalore rules TDR sale taxable as capital gains

For giving up 2,839 sq. metres of land, BBMP gives landowner TDRs which landowner sells to builder for Rs 6 crore; Income Tax Dept sends notice; ITAT Bangalore rules TDR sale attracts capital gains tax