https://www.taxtmi.com/caselaws?id=360141 An unregistered development agreement executed after the 2001 amendment to the Registration Act could not be enforced under section 53A of the Transfer of Property Act, so the deeming fiction in section 2(47)(v) of the Income-tax Act did not apply. As the alleged handing over of possession under that unregistered arrangement was not a valid transfer of a capital asset, no capital gains arose for the relevant year. The addition towards long-term capital gains was therefore deleted, with the assessee succeeding and the Revenue's challenge failing. en-us Mon, 07 May 2018 00:00:00 +0530 Thu, 10 May 2018 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360141 An unregistered development agreement executed after the 2001 amendment to the Registration Act could not be enforced under section 53A of the Transfer of Property Act, so the deeming fiction in section 2(47)(v) of the Income-tax Act did not apply. As the alleged handing over of possession under that unregistered arrangement was not a valid transfer of a capital asset, no capital gains arose for the relevant year. The addition towards long-term capital gains was therefore deleted, with the assessee succeeding and the Revenue's challenge failing. Case-Laws Income Tax Mon, 07 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360141