https://www.taxtmi.com/caselaws?id=239759 A joint development agreement was treated as a deemed transfer where the developer was given vacant and peaceful possession, rights to enter and develop the property, and part consideration had already been received. Applying the statutory fiction under section 2(47)(v), read with section 53A of the Transfer of Property Act and section 45 of the Income-tax Act, the transaction was held to fall within part performance even though legal title was conveyed later. Exclusive conveyance or registration was not necessary for the deeming provision to operate, and the resulting capital gains were taxable in assessment year 2005-06. en-us Fri, 15 Mar 2013 00:00:00 +0530 Fri, 20 Dec 2024 21:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239759 A joint development agreement was treated as a deemed transfer where the developer was given vacant and peaceful possession, rights to enter and develop the property, and part consideration had already been received. Applying the statutory fiction under section 2(47)(v), read with section 53A of the Transfer of Property Act and section 45 of the Income-tax Act, the transaction was held to fall within part performance even though legal title was conveyed later. Exclusive conveyance or registration was not necessary for the deeming provision to operate, and the resulting capital gains were taxable in assessment year 2005-06. Case-Laws Income Tax Fri, 15 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239759