https://www.taxtmi.com/caselaws?id=357934 An unregistered Joint Development Agreement did not satisfy the ingredients of section 53A of the Transfer of Property Act, so section 2(47)(v) of the Income-tax Act was not triggered for the remaining land. Only the portion actually conveyed through executed sale deeds was recognised as a transfer for capital gains purposes, while the developer's possession of the balance land was treated as permissive possession for development rather than possession in part performance. As a result, capital gains could be assessed only to the extent of the actual transfer, and the claim under section 54F became academic once that issue was resolved. en-us Tue, 14 Nov 2017 00:00:00 +0530 Mon, 02 Apr 2018 09:05:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357934 An unregistered Joint Development Agreement did not satisfy the ingredients of section 53A of the Transfer of Property Act, so section 2(47)(v) of the Income-tax Act was not triggered for the remaining land. Only the portion actually conveyed through executed sale deeds was recognised as a transfer for capital gains purposes, while the developer's possession of the balance land was treated as permissive possession for development rather than possession in part performance. As a result, capital gains could be assessed only to the extent of the actual transfer, and the claim under section 54F became academic once that issue was resolved. Case-Laws Income Tax Tue, 14 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357934