https://www.taxtmi.com/caselaws?id=337179 Development agreement documents, together with a registered power of attorney and handing over of possession, were treated as a transfer under section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act. The Tribunal further noted that the later sale deeds were only the culmination of that earlier transfer, so capital gains did not arise in the assessment year under appeal. It also found no basis to disturb the valuation relied upon by the assessee, and the deletion of the addition was upheld. en-us Wed, 21 Dec 2016 00:00:00 +0530 Wed, 04 Jan 2017 08:57:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337179 Development agreement documents, together with a registered power of attorney and handing over of possession, were treated as a transfer under section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act. The Tribunal further noted that the later sale deeds were only the culmination of that earlier transfer, so capital gains did not arise in the assessment year under appeal. It also found no basis to disturb the valuation relied upon by the assessee, and the deletion of the addition was upheld. Case-Laws Income Tax Wed, 21 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337179