https://www.taxtmi.com/caselaws?id=342522 A joint development arrangement was stated to create only a pro rata transfer of land, so the transaction did not attract capital gains tax under section 2(47)(ii), section 2(47)(v) or section 2(47)(vi) of the Income-tax Act, 1961. The note further states that no possession of the entire land was given in part performance under section 53A of the Transfer of Property Act, 1882; any possession was only as a licencee for development, not as a transferee. Because the post-24.09.2001 agreement was unregistered, section 53A requirements were not met and section 2(47)(v) did not apply. The capital gains addition was therefore deleted. en-us Tue, 02 May 2017 00:00:00 +0530 Sat, 06 May 2017 08:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342522 A joint development arrangement was stated to create only a pro rata transfer of land, so the transaction did not attract capital gains tax under section 2(47)(ii), section 2(47)(v) or section 2(47)(vi) of the Income-tax Act, 1961. The note further states that no possession of the entire land was given in part performance under section 53A of the Transfer of Property Act, 1882; any possession was only as a licencee for development, not as a transferee. Because the post-24.09.2001 agreement was unregistered, section 53A requirements were not met and section 2(47)(v) did not apply. The capital gains addition was therefore deleted. Case-Laws Income Tax Tue, 02 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342522