https://www.taxtmi.com/caselaws?id=64515 Enforceable rights under an original property agreement, including possession and tenancy-related interests, were treated as property capable of transfer under section 2(14) of the Income-tax Act, 1961. Applying section 53A of the Transfer of Property Act and section 2(47) of the Income-tax Act, the transfer was regarded as occurring only when those rights were actually surrendered and vacant possession was delivered, not on the date of the later agreement. On the stated facts, consideration was received through bank drafts and possession was handed over on 6 May 1987, making the subsequent purchase of another property fall within the two-year period for exemption under section 54F. en-us Thu, 30 Jan 1997 00:00:00 +0530 Tue, 08 Feb 2011 12:37:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64515 Enforceable rights under an original property agreement, including possession and tenancy-related interests, were treated as property capable of transfer under section 2(14) of the Income-tax Act, 1961. Applying section 53A of the Transfer of Property Act and section 2(47) of the Income-tax Act, the transfer was regarded as occurring only when those rights were actually surrendered and vacant possession was delivered, not on the date of the later agreement. On the stated facts, consideration was received through bank drafts and possession was handed over on 6 May 1987, making the subsequent purchase of another property fall within the two-year period for exemption under section 54F. Case-Laws Income Tax Thu, 30 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64515