https://www.taxtmi.com/caselaws?id=206464 An arrangement with a developer was treated as a transfer in part performance where possession was allowed under section 2(47)(v), so capital gains arose on the transfer of the land share. The agreed entitlement to a flat was part of the consideration accruing from that transfer and was includible in the computation under section 48, even though the flat had not yet been handed over. Exemption under section 54F was confined to investment in one residential house, so relief could not be extended to two residential properties. The additions and the restriction of exemption were upheld. en-us Fri, 09 Sep 2011 00:00:00 +0530 Mon, 31 Oct 2011 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206464 An arrangement with a developer was treated as a transfer in part performance where possession was allowed under section 2(47)(v), so capital gains arose on the transfer of the land share. The agreed entitlement to a flat was part of the consideration accruing from that transfer and was includible in the computation under section 48, even though the flat had not yet been handed over. Exemption under section 54F was confined to investment in one residential house, so relief could not be extended to two residential properties. The additions and the restriction of exemption were upheld. Case-Laws Income Tax Fri, 09 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206464