https://www.taxtmi.com/caselaws?id=192221 Capital gains under section 2(47)(v) arise only where a joint development arrangement satisfies the requirements of section 53A of the Transfer of Property Act. The Tribunal followed the binding High Court ruling on the same agreement and noted that possession of the entire land had not been handed over in part performance, and the developers were not shown to be willing or able to perform their contractual obligations. As those mandatory conditions were unmet, the remaining land was not treated as transferred for capital gains purposes and no chargeable income accrued on that footing. en-us Wed, 19 Oct 2016 00:00:00 +0530 Sat, 20 May 2017 08:59:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192221 Capital gains under section 2(47)(v) arise only where a joint development arrangement satisfies the requirements of section 53A of the Transfer of Property Act. The Tribunal followed the binding High Court ruling on the same agreement and noted that possession of the entire land had not been handed over in part performance, and the developers were not shown to be willing or able to perform their contractual obligations. As those mandatory conditions were unmet, the remaining land was not treated as transferred for capital gains purposes and no chargeable income accrued on that footing. Case-Laws Income Tax Wed, 19 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192221