https://www.taxtmi.com/caselaws?id=71884 A development arrangement that granted possession, involved a power of attorney, and evidenced receipt of consideration was treated as a transfer in part performance for capital gains purposes, and registration of sale deeds in favour of flat purchasers was not decisive. The note also highlights that where an assessment is based substantially on third-party letters and statements, denial of cross-examination and supply of relied-upon material offends fairness and can require the capital gains computation to be set aside for fresh examination. The ratio stated is that section 2(47)(v) is attracted by possession-based development transactions, while adverse material must be tested by cross-examination. en-us Tue, 21 Jun 2005 00:00:00 +0530 Tue, 07 May 2024 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71884 A development arrangement that granted possession, involved a power of attorney, and evidenced receipt of consideration was treated as a transfer in part performance for capital gains purposes, and registration of sale deeds in favour of flat purchasers was not decisive. The note also highlights that where an assessment is based substantially on third-party letters and statements, denial of cross-examination and supply of relied-upon material offends fairness and can require the capital gains computation to be set aside for fresh examination. The ratio stated is that section 2(47)(v) is attracted by possession-based development transactions, while adverse material must be tested by cross-examination. Case-Laws Income Tax Tue, 21 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71884