https://www.taxtmi.com/caselaws?id=178044 Effective possession can be inferred from the totality of contemporaneous facts and conduct, including an agreement to sell, a supporting power of attorney, substantial receipt of consideration, authority given to the purchasers to obtain approvals and deal with prospective flat buyers, and admitted demolition of the bungalow. On those facts, the arrangement was treated as part performance under section 53A of the Transfer of Property Act and as a transfer under section 2(47)(v) of the Income-tax Act for capital gains purposes, even though no registered conveyance had yet been executed. The later exchange of letters did not outweigh the surrounding circumstances showing transfer in substance. en-us Tue, 21 Dec 1999 00:00:00 +0530 Wed, 27 Jan 2016 15:20:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178044 Effective possession can be inferred from the totality of contemporaneous facts and conduct, including an agreement to sell, a supporting power of attorney, substantial receipt of consideration, authority given to the purchasers to obtain approvals and deal with prospective flat buyers, and admitted demolition of the bungalow. On those facts, the arrangement was treated as part performance under section 53A of the Transfer of Property Act and as a transfer under section 2(47)(v) of the Income-tax Act for capital gains purposes, even though no registered conveyance had yet been executed. The later exchange of letters did not outweigh the surrounding circumstances showing transfer in substance. Case-Laws Income Tax Tue, 21 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178044