ITAT Patna Judgments — April 2026

The Tribunal held that the assessee was merely a developer acting as an attorney holder for the original landowners, and the land constituted stock-in-trade. The sale deed relied upon by the lower authorities pertained to a different parcel of land and did not establish ownership for the land in question. Therefore, Section 50C, which applies only to capital assets, was not applicable.

The Tribunal held that Section 43CA applies to the transfer of tangible immovable property (land or building). Transferable Developmental Rights (TDRs) are intangible rights and not land or building per se. Following judicial precedents, the Tribunal found no infirmity in the CIT(A)'s order deleting the addition.