https://www.taxtmi.com/caselaws?id=63002 A collaboration arrangement over leasehold land and an existing structure does not, by itself, constitute a transfer of a capital asset under section 2(47) of the Income-tax Act, 1961, where no registered conveyance is executed and the property is not actually conveyed. The arrangement is treated as a permissive licence to enter and construct, not as a sale or lease, and the assessee's substantive rights in the property are not completely extinguished. Amounts received in advance or as security for a contemplated future transfer of yet-to-emerge built-up space do not create capital gains until an effective transfer occurs. en-us Tue, 22 Sep 1987 00:00:00 +0530 Thu, 27 Jan 2011 12:06:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63002 A collaboration arrangement over leasehold land and an existing structure does not, by itself, constitute a transfer of a capital asset under section 2(47) of the Income-tax Act, 1961, where no registered conveyance is executed and the property is not actually conveyed. The arrangement is treated as a permissive licence to enter and construct, not as a sale or lease, and the assessee's substantive rights in the property are not completely extinguished. Amounts received in advance or as security for a contemplated future transfer of yet-to-emerge built-up space do not create capital gains until an effective transfer occurs. Case-Laws Income Tax Tue, 22 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63002