https://www.taxtmi.com/caselaws?id=62595 Section 2(47)(v) applies only where immovable property is allowed to be taken or retained in part performance of a contract within section 53A of the Transfer of Property Act. Mere partial execution of an agreement to sell, including sale of some plots, is not enough unless possession under the contract is actually delivered or retained. Where the agreement provides that possession will be given only after full payment and there is no material showing delivery or constructive transfer of the balance land, the transaction does not constitute a transfer for capital gains purposes to that extent, and no further capital gains addition can be sustained. en-us Thu, 20 Jul 1995 00:00:00 +0530 Fri, 20 Dec 2024 21:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62595 Section 2(47)(v) applies only where immovable property is allowed to be taken or retained in part performance of a contract within section 53A of the Transfer of Property Act. Mere partial execution of an agreement to sell, including sale of some plots, is not enough unless possession under the contract is actually delivered or retained. Where the agreement provides that possession will be given only after full payment and there is no material showing delivery or constructive transfer of the balance land, the transaction does not constitute a transfer for capital gains purposes to that extent, and no further capital gains addition can be sustained. Case-Laws Income Tax Thu, 20 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62595