https://www.taxtmi.com/caselaws?id=248590 Capital gains on development agreements were treated as arising when possession was handed over in part performance, because the arrangement fell within the transfer concept under section 2(47) read with section 53A, even if final consideration was received later. Gifts credited in the names of minors were accepted only to the extent supported by withdrawals and surrounding evidence, and the unexplained balance was sustained as taxable in the father's hands. The nature of lands sold by the children, including whether they were agricultural lands outside notified municipal limits, was not finally decided and was remitted for fresh factual verification. The claim for relief under section 54F was also restored for reconsideration. en-us Thu, 22 Mar 2012 00:00:00 +0530 Wed, 18 Jun 2014 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248590 Capital gains on development agreements were treated as arising when possession was handed over in part performance, because the arrangement fell within the transfer concept under section 2(47) read with section 53A, even if final consideration was received later. Gifts credited in the names of minors were accepted only to the extent supported by withdrawals and surrounding evidence, and the unexplained balance was sustained as taxable in the father's hands. The nature of lands sold by the children, including whether they were agricultural lands outside notified municipal limits, was not finally decided and was remitted for fresh factual verification. The claim for relief under section 54F was also restored for reconsideration. Case-Laws Income Tax Thu, 22 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248590