https://www.taxtmi.com/caselaws?id=216678 Joint development arrangements trigger deemed transfer under section 2(47)(v) only where possession is given in part performance satisfying section 53A, including the transferee's readiness and willingness to perform. A supplementary agreement finalising the owner's share in constructed flats may establish those conditions in the relevant year, making the resulting capital gains taxable then. Construction cost adopted as consideration may require fresh valuation within the indicated ceiling, while expenditure deductions fail without supporting evidence. The valuation question may therefore be reconsidered, but taxability and unsupported expenditure claims remain unaffected. en-us Fri, 14 Sep 2012 00:00:00 +0530 Fri, 20 Dec 2024 21:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216678 Joint development arrangements trigger deemed transfer under section 2(47)(v) only where possession is given in part performance satisfying section 53A, including the transferee's readiness and willingness to perform. A supplementary agreement finalising the owner's share in constructed flats may establish those conditions in the relevant year, making the resulting capital gains taxable then. Construction cost adopted as consideration may require fresh valuation within the indicated ceiling, while expenditure deductions fail without supporting evidence. The valuation question may therefore be reconsidered, but taxability and unsupported expenditure claims remain unaffected. Case-Laws Income Tax Fri, 14 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216678