https://www.taxtmi.com/caselaws?id=365589 A development agreement combined with handing over possession and performance of contractual obligations was treated as a transfer under section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act, so capital gains became taxable in the relevant assessment year. The computation of sale consideration, including the treatment of refundable deposit and built-up area, was remanded for fresh verification. The cost of acquisition, including demolition expenses, payments to occupants, and litigation , was also sent back for reconsideration. The alternate claim for deduction or exemption under sections 54 and 54F required factual and legal examination and was likewise remanded. en-us Fri, 17 Aug 2018 00:00:00 +0530 Mon, 20 Aug 2018 08:09:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365589 A development agreement combined with handing over possession and performance of contractual obligations was treated as a transfer under section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act, so capital gains became taxable in the relevant assessment year. The computation of sale consideration, including the treatment of refundable deposit and built-up area, was remanded for fresh verification. The cost of acquisition, including demolition expenses, payments to occupants, and litigation , was also sent back for reconsideration. The alternate claim for deduction or exemption under sections 54 and 54F required factual and legal examination and was likewise remanded. Case-Laws Income Tax Fri, 17 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365589