https://www.taxtmi.com/caselaws?id=242120 The Tribunal ruled that the land was not agricultural at the time of the transaction. The Development Agreement-cum-GPA did not amount to a transfer under Section 2(47)(v). Estimating the full value of consideration based on the penal clause was deemed inappropriate, and the transaction was not classified as an adventure in the nature of trade. Consequently, the appeal was partially allowed in favor of the assessee. en-us Fri, 03 Jan 2014 00:00:00 +0530 Wed, 08 Jan 2014 08:23:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242120 The Tribunal ruled that the land was not agricultural at the time of the transaction. The Development Agreement-cum-GPA did not amount to a transfer under Section 2(47)(v). Estimating the full value of consideration based on the penal clause was deemed inappropriate, and the transaction was not classified as an adventure in the nature of trade. Consequently, the appeal was partially allowed in favor of the assessee. Case-Laws Income Tax Fri, 03 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242120