https://www.taxtmi.com/caselaws?id=179299 A development agreement will not amount to a transfer under Section 2(47)(v) read with Section 53A unless possession is actually handed over and the transferee obtains the relevant control contemplated by the arrangement. On the facts described, possession was not delivered in the relevant assessment year, the assessee retained control over the property, and later agreements modified the original arrangement. Capital gains were therefore found to arise only in the later year when the operative arrangement changed, not in assessment year 2003-04. en-us Mon, 02 Dec 2013 00:00:00 +0530 Mon, 05 Dec 2016 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179299 A development agreement will not amount to a transfer under Section 2(47)(v) read with Section 53A unless possession is actually handed over and the transferee obtains the relevant control contemplated by the arrangement. On the facts described, possession was not delivered in the relevant assessment year, the assessee retained control over the property, and later agreements modified the original arrangement. Capital gains were therefore found to arise only in the later year when the operative arrangement changed, not in assessment year 2003-04. Case-Laws Income Tax Mon, 02 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179299