https://www.taxtmi.com/caselaws?id=274850 Capital gains from an agreement to sell flats were not taxable in the relevant assessment year because no transfer under section 2(47) had occurred. The flats were still under construction and possession had not been delivered, so the statutory ingredients of section 2(47)(i) and section 2(47)(v) were not satisfied. Section 53A of the Transfer of Property Act was also inapplicable because the transferee had not obtained possession or complete control over the property. The HC treated the Tribunal's conclusions as factual and found no perversity or substantial question of law. en-us Wed, 02 Dec 2015 00:00:00 +0530 Fri, 07 Sep 2018 07:00:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274850 Capital gains from an agreement to sell flats were not taxable in the relevant assessment year because no transfer under section 2(47) had occurred. The flats were still under construction and possession had not been delivered, so the statutory ingredients of section 2(47)(i) and section 2(47)(v) were not satisfied. Section 53A of the Transfer of Property Act was also inapplicable because the transferee had not obtained possession or complete control over the property. The HC treated the Tribunal's conclusions as factual and found no perversity or substantial question of law. Case-Laws Income Tax Wed, 02 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274850