https://www.taxtmi.com/caselaws?id=254127 Execution of a development agreement may constitute a transfer for capital gains purposes where possession is effectively handed over and the arrangement falls within section 2(47)(v) read with section 53A; on these facts, capital gains were treated as arising in the relevant year. The computation of deemed consideration, however, required fresh examination because it had to be based on fair market value as on the date of transfer, with proper regard to stamp duty value. The assessee's claims on joint ownership, the effect of a registered partition deed and ratification deed, and eligibility for exemption under section 54F also required reconsideration by the assessing authority. en-us Wed, 10 Dec 2014 00:00:00 +0530 Fri, 12 Dec 2014 21:38:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254127 Execution of a development agreement may constitute a transfer for capital gains purposes where possession is effectively handed over and the arrangement falls within section 2(47)(v) read with section 53A; on these facts, capital gains were treated as arising in the relevant year. The computation of deemed consideration, however, required fresh examination because it had to be based on fair market value as on the date of transfer, with proper regard to stamp duty value. The assessee's claims on joint ownership, the effect of a registered partition deed and ratification deed, and eligibility for exemption under section 54F also required reconsideration by the assessing authority. Case-Laws Income Tax Wed, 10 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254127