https://www.taxtmi.com/caselaws?id=258412 The tribunal upheld the CIT (A)'s decision, ruling that the Development Agreement did not result in a taxable transfer under Section 2(47)(v) of the Income Tax Act. It was held that since the Developer had not initiated any development activities and no consideration had accrued, the assessee was not liable for capital gains tax in the relevant assessment year. The Revenue's appeal was dismissed. en-us Fri, 20 Mar 2015 00:00:00 +0530 Thu, 09 Apr 2015 06:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258412 The tribunal upheld the CIT (A)'s decision, ruling that the Development Agreement did not result in a taxable transfer under Section 2(47)(v) of the Income Tax Act. It was held that since the Developer had not initiated any development activities and no consideration had accrued, the assessee was not liable for capital gains tax in the relevant assessment year. The Revenue's appeal was dismissed. Case-Laws Income Tax Fri, 20 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258412