https://www.taxtmi.com/caselaws?id=77658 An agreement for sale accompanied by delivery of possession may constitute a transfer under section 2(47)(v) of the Income-tax Act when the arrangement satisfies the part-performance requirements of section 53A of the Transfer of Property Act; on the stated facts, the transfer was treated as falling within that provision. An addition was also sustained because the assessee failed to substantiate the claimed source of funds with books or supporting documents, and the loss position of the stated concern undermined the explanation. The assessment and Tribunal findings were therefore left undisturbed. en-us Thu, 05 Nov 2009 00:00:00 +0530 Fri, 01 Oct 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77658 An agreement for sale accompanied by delivery of possession may constitute a transfer under section 2(47)(v) of the Income-tax Act when the arrangement satisfies the part-performance requirements of section 53A of the Transfer of Property Act; on the stated facts, the transfer was treated as falling within that provision. An addition was also sustained because the assessee failed to substantiate the claimed source of funds with books or supporting documents, and the loss position of the stated concern undermined the explanation. The assessment and Tribunal findings were therefore left undisturbed. Case-Laws Income Tax Thu, 05 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77658