Transfer of Development Rights by Builder is Transfer of Capital Assets, not Stock in trade: SC quashes Bombay HC Judgment [Read Order]

By Navasree A.M - On May 6, 2023 12:19 pm - 3 mins read
Capital Assets - Transfer of development rights - Supreme Court - Bombay High Court - Judgment - Stock in trade - Transfer of Development Rights by Builder is Transfer of Capital Assets - Taxscan

The Two Bench of Justices M.R. Shah and B.V. Nagarathna of the Supreme Court invalidated the decisions of the Income Tax Appellate Tribunal (ITAT) and the Bombay High Court in order to uphold that the transfer of development rights by a builder constitutes a transfer of capital assets rather than stock in trade as recorded…

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