https://www.taxtmi.com/caselaws?id=389328 A development agreement granting the developer only development rights, buyer identification powers and sale-term control did not amount to a transfer of land under section 2(47)(v) where the owner retained possession and the final authority to execute sale deeds. The land was also found to be held as stock in trade throughout, and section 2(47) applies to capital assets; on those facts, the agreement could not be treated as a transfer of the land. The addition based on transfer was therefore unsustainable, and the Revenue's appeal was dismissed. en-us Tue, 24 Sep 2019 00:00:00 +0530 Thu, 05 Dec 2019 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389328 A development agreement granting the developer only development rights, buyer identification powers and sale-term control did not amount to a transfer of land under section 2(47)(v) where the owner retained possession and the final authority to execute sale deeds. The land was also found to be held as stock in trade throughout, and section 2(47) applies to capital assets; on those facts, the agreement could not be treated as a transfer of the land. The addition based on transfer was therefore unsustainable, and the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 24 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389328