https://www.taxtmi.com/caselaws?id=4359 Section 2(47)(v) of the Income-tax Act applies only where the transaction independently satisfies section 53A of the Transfer of Property Act, including a written contract signed by the transferor and possession in part performance. In the absence of any written agreement between the assessee and the developer, and where no sale consideration had been received during the relevant period, handing over of possession could not be treated as a transfer. On that basis, no capital gains arose in the block period, and the addition founded on an alleged developer transfer was unsustainable. en-us Mon, 18 Jun 2007 00:00:00 +0530 Fri, 20 Dec 2024 21:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4359 Section 2(47)(v) of the Income-tax Act applies only where the transaction independently satisfies section 53A of the Transfer of Property Act, including a written contract signed by the transferor and possession in part performance. In the absence of any written agreement between the assessee and the developer, and where no sale consideration had been received during the relevant period, handing over of possession could not be treated as a transfer. On that basis, no capital gains arose in the block period, and the addition founded on an alleged developer transfer was unsustainable. Case-Laws Income Tax Mon, 18 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4359