https://www.taxtmi.com/caselaws?id=373626 An unregistered agreement assigning leasehold rights could not, after the 2001 amendments to section 53A of the Transfer of Property Act and sections 17 and 49 of the Registration Act, be treated as a contract enforceable under section 53A; accordingly, the deeming transfer under section 2(47)(v) of the Income-tax Act could not be invoked solely on that basis. The taxability of the rights actually transferred still required fresh factual examination, so the matter had to be reconsidered on the merits by the Assessing Officer. On that reasoning, the addition based on the lower authorities' approach was not sustainable. en-us Wed, 12 Dec 2018 00:00:00 +0530 Wed, 16 Jan 2019 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373626 An unregistered agreement assigning leasehold rights could not, after the 2001 amendments to section 53A of the Transfer of Property Act and sections 17 and 49 of the Registration Act, be treated as a contract enforceable under section 53A; accordingly, the deeming transfer under section 2(47)(v) of the Income-tax Act could not be invoked solely on that basis. The taxability of the rights actually transferred still required fresh factual examination, so the matter had to be reconsidered on the merits by the Assessing Officer. On that reasoning, the addition based on the lower authorities' approach was not sustainable. Case-Laws Income Tax Wed, 12 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373626