https://www.taxtmi.com/caselaws?id=340665 A development agreement for future construction did not, on these facts, amount to a transfer under section 2(47)(v) because the developer received access only for development purposes, no completed construction or accrued share of built-up area arose during the year, and the arrangement did not satisfy the part-performance requirements linked to section 53A of the Transfer of Property Act. The related long-term capital gains addition was deleted. Section 50C also could not apply because there was no completed transfer of land or building in the relevant year; accordingly, stamp valuation could not be substituted for actual consideration. en-us Tue, 14 Mar 2017 00:00:00 +0530 Fri, 24 Mar 2017 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340665 A development agreement for future construction did not, on these facts, amount to a transfer under section 2(47)(v) because the developer received access only for development purposes, no completed construction or accrued share of built-up area arose during the year, and the arrangement did not satisfy the part-performance requirements linked to section 53A of the Transfer of Property Act. The related long-term capital gains addition was deleted. Section 50C also could not apply because there was no completed transfer of land or building in the relevant year; accordingly, stamp valuation could not be substituted for actual consideration. Case-Laws Income Tax Tue, 14 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340665