https://www.taxtmi.com/caselaws?id=202823 A development agreement may trigger a deemed transfer for capital gains when possession, effective control, and supporting conduct show that the purchaser has acquired rights falling within section 2(47)(v) read with section 53A; on the text given, the land was treated as transferred in the relevant year and later-year tax credit was rejected. For section 80HHC computation, excise duty was held to fall outside total turnover because it does not arise from trading turnover; on that basis, it was excluded from the formula and the assessee's claim on this point was accepted. en-us Fri, 20 Nov 2009 00:00:00 +0530 Mon, 18 Apr 2011 01:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202823 A development agreement may trigger a deemed transfer for capital gains when possession, effective control, and supporting conduct show that the purchaser has acquired rights falling within section 2(47)(v) read with section 53A; on the text given, the land was treated as transferred in the relevant year and later-year tax credit was rejected. For section 80HHC computation, excise duty was held to fall outside total turnover because it does not arise from trading turnover; on that basis, it was excluded from the formula and the assessee's claim on this point was accepted. Case-Laws Income Tax Fri, 20 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202823