Case Law Analysis
|Income Tax Appellate Tribunal
Section 43CA Income Tax Act | TDRs Are Intangible Assets Exempt from Deemed Value Taxation : ITAT Nagpur
ITAT Nagpur rules that Transferable Development Rights (TDRs) are intangible assets and do not qualify as 'tangible immovable property' under Section 43CA of the Income Tax Act. The tribunal set aside a Rs. 5.56 crore addition, clarifying that the provision applies only to physical property transfers, not development rights.