https://www.taxtmi.com/caselaws?id=261917 A joint development arrangement is treated as a deemed transfer for capital gains only if it satisfies section 53A requirements, including a registered contract where applicable, ascertainable terms, and delivery of possession in part performance. Mere development access or a licence does not amount to such possession, and partial registered sale deeds may indicate that the full transfer has not occurred. Capital gains cannot be brought to tax on a purely notional basis where the balance consideration has not actually accrued and the remaining obligations under the arrangement remain unperformed or incapable of performance. The unconveyed land and unpaid consideration are therefore not taxable as a hypothetical receipt. en-us Wed, 22 Jul 2015 00:00:00 +0530 Fri, 25 Jul 2025 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261917 A joint development arrangement is treated as a deemed transfer for capital gains only if it satisfies section 53A requirements, including a registered contract where applicable, ascertainable terms, and delivery of possession in part performance. Mere development access or a licence does not amount to such possession, and partial registered sale deeds may indicate that the full transfer has not occurred. Capital gains cannot be brought to tax on a purely notional basis where the balance consideration has not actually accrued and the remaining obligations under the arrangement remain unperformed or incapable of performance. The unconveyed land and unpaid consideration are therefore not taxable as a hypothetical receipt. Case-Laws Income Tax Wed, 22 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261917