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43CA of the Income Tax Act

Dear Sir

I have the following query with respect to Sec 43CA of the Income Tax Act.
A Pvt Limited company whose main business is dealing in real estate and construction activity. The company is also owning one Tenanted building covered under MHADA which is being redeveloped.
As per approval granted by MHADA minimum area to be given to members is 225 and Maximum is 750 sq.ft.
Some of the members are already occupying flats more than 750 sq.ft accordingly and hence they were not agreed for redevelopment. According a general meeting of all the members was called in the presence of MHADA officer and it was decided to allot flat of standard size of 900 sq.ft in the year 2007-2008 accordingly Possession was handed over by tenants and tenanted Building was demolished in 2007-2008.
It was agreed in 2007-2008 that ownership flat was provided free of cost on ownership basis in liew of tenanted flat and
Construction was delayed for some reasons and got OC in the Year 2012-13.
Permanent Alternate Accommodation Agreement (PAAA) was executed with tenants in FY 2015-2016.
Questions :
1. Extra area given to the tenants free of cost over and above the area fixed by MHADA amount to transfer/Exchange and contemplated under section 43CA ?

2. Is the transaction hit by 43CA ? If yes, kindly elaborate.
I solicit your learned view.
with regards,
Alpesh Modi