https://www.taxtmi.com/caselaws?id=354836 An agreement to sell accompanied by part payment, delivery of possession, and later performance was treated as a transfer under section 2(47), so the land was acquired on 11.04.2007 and the resulting gain was long-term capital gain. The valuation adopted under section 50C was found incomplete because the property was usable only as farm house land, faced construction restrictions, and was affected by acquisition-related circumstances; the matter was therefore remanded for fresh valuation on all relevant factors. Improvement expenditure incurred after the transfer date was held allowable in computing capital gains. en-us Thu, 25 Jan 2018 00:00:00 +0530 Mon, 05 Feb 2018 09:02:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354836 An agreement to sell accompanied by part payment, delivery of possession, and later performance was treated as a transfer under section 2(47), so the land was acquired on 11.04.2007 and the resulting gain was long-term capital gain. The valuation adopted under section 50C was found incomplete because the property was usable only as farm house land, faced construction restrictions, and was affected by acquisition-related circumstances; the matter was therefore remanded for fresh valuation on all relevant factors. Improvement expenditure incurred after the transfer date was held allowable in computing capital gains. Case-Laws Income Tax Thu, 25 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354836