https://www.taxtmi.com/caselaws?id=263182 Capital gains under section 2(47)(v) were held not to arise on the unperformed and cancelled portion of a joint development agreement where the arrangement was unregistered and the requirements of section 53A of the Transfer of Property Act, 1882 were not satisfied. Possession was described as permissive for development purposes, not possession in part performance as a transferee. On that basis, the deeming transfer provision did not apply and the remaining land could not be taxed as capital gains. The separate claim for exemption under section 54F did not require adjudication. en-us Fri, 31 Jul 2015 00:00:00 +0530 Thu, 27 Aug 2015 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263182 Capital gains under section 2(47)(v) were held not to arise on the unperformed and cancelled portion of a joint development agreement where the arrangement was unregistered and the requirements of section 53A of the Transfer of Property Act, 1882 were not satisfied. Possession was described as permissive for development purposes, not possession in part performance as a transferee. On that basis, the deeming transfer provision did not apply and the remaining land could not be taxed as capital gains. The separate claim for exemption under section 54F did not require adjudication. Case-Laws Income Tax Fri, 31 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263182