https://www.taxtmi.com/caselaws?id=259697 Development rights and part possession conferred under a development agreement, supported by an irrevocable power of attorney, supplementary agreement and mutation entries, were treated as an effective transfer from 18.01.1996. The arrangement attracted section 53A of the Transfer of Property Act, 1882 and section 2(47)(v) of the Income-tax Act, 1961, so the later sale deed dated 31.08.2000 only formalised title and did not defer the transfer date for capital gains purposes. On those facts, the compensation received on acquisition was assessable as long-term capital gain, and the Revenue's challenge failed. en-us Fri, 10 Apr 2015 00:00:00 +0530 Tue, 19 May 2015 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259697 Development rights and part possession conferred under a development agreement, supported by an irrevocable power of attorney, supplementary agreement and mutation entries, were treated as an effective transfer from 18.01.1996. The arrangement attracted section 53A of the Transfer of Property Act, 1882 and section 2(47)(v) of the Income-tax Act, 1961, so the later sale deed dated 31.08.2000 only formalised title and did not defer the transfer date for capital gains purposes. On those facts, the compensation received on acquisition was assessable as long-term capital gain, and the Revenue's challenge failed. Case-Laws Income Tax Fri, 10 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259697