https://www.taxtmi.com/caselaws?id=261644 Section 2(47)(v) read with section 53A treats a land transaction as a transfer for capital gains purposes when there is a written, signed agreement for immovable property and possession is delivered in part performance; in that situation, transfer is complete in the earlier year even if the sale deed is executed later. By contrast, oral arrangements without a written contract do not satisfy the statutory requirements of section 53A and do not effect a transfer under section 2(47)(v). The Tribunal also noted that a respondent may raise additional legal grounds under Rule 27 where the material is already on record, with the proper course being limited remand for fresh consideration. en-us Fri, 10 Jul 2015 00:00:00 +0530 Sat, 18 Jul 2015 08:41:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261644 Section 2(47)(v) read with section 53A treats a land transaction as a transfer for capital gains purposes when there is a written, signed agreement for immovable property and possession is delivered in part performance; in that situation, transfer is complete in the earlier year even if the sale deed is executed later. By contrast, oral arrangements without a written contract do not satisfy the statutory requirements of section 53A and do not effect a transfer under section 2(47)(v). The Tribunal also noted that a respondent may raise additional legal grounds under Rule 27 where the material is already on record, with the proper course being limited remand for fresh consideration. Case-Laws Income Tax Fri, 10 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261644