https://www.taxtmi.com/caselaws?id=244837 A joint development agreement was examined to determine whether it constituted a deemed transfer under section 2(47)(v) read with section 53A of the Transfer of Property Act. Because absolute possession was not handed over, the assessee retained possession, only limited construction access was permitted, and no consideration was received during the relevant year, the conditions of part performance were not satisfied. The agreement therefore did not amount to a transfer for capital gains purposes, and the capital gain could not be taxed in assessment year 2008-09. en-us Thu, 27 Feb 2014 00:00:00 +0530 Mon, 10 Mar 2014 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244837 A joint development agreement was examined to determine whether it constituted a deemed transfer under section 2(47)(v) read with section 53A of the Transfer of Property Act. Because absolute possession was not handed over, the assessee retained possession, only limited construction access was permitted, and no consideration was received during the relevant year, the conditions of part performance were not satisfied. The agreement therefore did not amount to a transfer for capital gains purposes, and the capital gain could not be taxed in assessment year 2008-09. Case-Laws Income Tax Thu, 27 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244837