https://www.taxtmi.com/caselaws?id=343109 A joint development arrangement was not treated as a transfer for capital gains purposes because the essential requirements of section 53A of the Transfer of Property Act were not satisfied: the agreement was unregistered and possession had not been delivered in part performance in the legal sense. As a result, sections 2(47)(v) and 2(47)(vi) of the Income-tax Act could not be invoked on that basis, and the earlier binding decision made the issue no longer res integra. The revenue's appeals were dismissed, and the Tribunal's deletion of the capital gains addition was left undisturbed. en-us Mon, 08 May 2017 00:00:00 +0530 Fri, 19 May 2017 07:48:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343109 A joint development arrangement was not treated as a transfer for capital gains purposes because the essential requirements of section 53A of the Transfer of Property Act were not satisfied: the agreement was unregistered and possession had not been delivered in part performance in the legal sense. As a result, sections 2(47)(v) and 2(47)(vi) of the Income-tax Act could not be invoked on that basis, and the earlier binding decision made the issue no longer res integra. The revenue's appeals were dismissed, and the Tribunal's deletion of the capital gains addition was left undisturbed. Case-Laws Income Tax Mon, 08 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343109