https://www.taxtmi.com/caselaws?id=236728 Capital gains arise in the year of transfer where a development agreement, irrevocable power of attorney, transfer of development rights, and effective control handed to the developer establish a transfer of immovable property. Transactions permitting possession in part performance or enabling enjoyment of property fall within the expanded definition of transfer. The full value of consideration includes not only cash received but also the accrued right to receive flats under the development arrangement. Accordingly, capital gains are taxable in the year of the development transaction on both cash and flat consideration. en-us Wed, 31 Jul 2013 00:00:00 +0530 Fri, 06 Sep 2013 09:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236728 Capital gains arise in the year of transfer where a development agreement, irrevocable power of attorney, transfer of development rights, and effective control handed to the developer establish a transfer of immovable property. Transactions permitting possession in part performance or enabling enjoyment of property fall within the expanded definition of transfer. The full value of consideration includes not only cash received but also the accrued right to receive flats under the development arrangement. Accordingly, capital gains are taxable in the year of the development transaction on both cash and flat consideration. Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236728