https://www.taxtmi.com/caselaws?id=366375 Handing over land to a developer under a development agreement does not by itself create a transfer for capital gains unless possession is given in the legally protected sense contemplated by Section 53A of the Transfer of Property Act; where the owner retains rights in the constructed area and the developer's entitlement arises only after completion and division, Section 2(47)(v) and Section 45 are not triggered merely by execution of the agreement. The note also states that Section 263 cannot be used to revisit the treatment of retained constructed area and depreciation when the same property issue has already been conclusively decided in earlier appellate proceedings. en-us Wed, 18 Jul 2018 00:00:00 +0530 Tue, 11 Sep 2018 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366375 Handing over land to a developer under a development agreement does not by itself create a transfer for capital gains unless possession is given in the legally protected sense contemplated by Section 53A of the Transfer of Property Act; where the owner retains rights in the constructed area and the developer's entitlement arises only after completion and division, Section 2(47)(v) and Section 45 are not triggered merely by execution of the agreement. The note also states that Section 263 cannot be used to revisit the treatment of retained constructed area and depreciation when the same property issue has already been conclusively decided in earlier appellate proceedings. Case-Laws Income Tax Wed, 18 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366375