https://www.taxtmi.com/caselaws?id=366375 Handing over land to a developer under a development agreement does not trigger capital gains merely on execution and delivery of possession unless the possession qualifies for protection under 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 apportionment, no transfer occurs under Section 2(47)(v). Revision cannot reopen the classification of retained property or related depreciation where appellate authorities have conclusively settled the issue for the same property; revision under Section 263 is impermissible. 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 trigger capital gains merely on execution and delivery of possession unless the possession qualifies for protection under 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 apportionment, no transfer occurs under Section 2(47)(v). Revision cannot reopen the classification of retained property or related depreciation where appellate authorities have conclusively settled the issue for the same property; revision under Section 263 is impermissible. Case-Laws Income Tax Wed, 18 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366375