https://www.taxtmi.com/caselaws?id=347131 A development agreement does not trigger capital gains tax under section 2(47)(v) unless it satisfies section 53A of the Transfer of Property Act and results in delivery of possession or effective control. Here, the developer's rights remained contingent on approvals, slum-occupant conditions, and commencement of development, while possession had not been handed over in the relevant year. On those facts, mere execution of the agreement was insufficient to constitute a completed transfer, so long-term capital gains could not be brought to tax for that assessment year. en-us Wed, 23 Aug 2017 00:00:00 +0530 Wed, 29 Nov 2017 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347131 A development agreement does not trigger capital gains tax under section 2(47)(v) unless it satisfies section 53A of the Transfer of Property Act and results in delivery of possession or effective control. Here, the developer's rights remained contingent on approvals, slum-occupant conditions, and commencement of development, while possession had not been handed over in the relevant year. On those facts, mere execution of the agreement was insufficient to constitute a completed transfer, so long-term capital gains could not be brought to tax for that assessment year. Case-Laws Income Tax Wed, 23 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347131