07 April 2022
1. A person owns a two bedroom flat in a co.op society. 2. The conveyance deed has been executed. Hence the land ownership is with the Society. 3. A builder approached the Society and offered 30 % additional area to each existing flat owner, if the Society enters into a Development agreement. 4. In addition, the builder offered Solar panel system, battery back up for the lift, rent for alternative accommodation, and shifting charges. 4. There was no offer for any other monetary compensation, except where a flat owner opts for not availing 30 % area offered by the builder. 5. In such cases, will the provisions of Sec.45(5 A) apply attracting capital gains for any flat owner,either opting for additional 30 % or accepting compensation for NOT availing 30 %. Your views are solicitated, preferably with decisions of Court.
CAclubindia
