https://www.taxtmi.com/caselaws?id=404133 A joint development arrangement is discussed in which capital gains were treated as chargeable in assessment year 2012-13 because transfer was found to arise only when the developed area was actually received, and the agreement did not amount to delivery of possession under section 53A. Commission paid for acquiring the land was accepted as part of the cost of acquisition because it was evidenced, banked, and directly linked to purchase. For valuation, the commercial area received under the arrangement was assessed on the unrebutted construction cost, not guideline value under section 50C, while flats sold under earlier booking agreements were to be valued by the stamp value on the agreement date. Interest on prematurely closed fixed deposits was remanded for fresh verification. en-us Mon, 15 Feb 2021 00:00:00 +0530 Tue, 16 Feb 2021 11:24:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404133 A joint development arrangement is discussed in which capital gains were treated as chargeable in assessment year 2012-13 because transfer was found to arise only when the developed area was actually received, and the agreement did not amount to delivery of possession under section 53A. Commission paid for acquiring the land was accepted as part of the cost of acquisition because it was evidenced, banked, and directly linked to purchase. For valuation, the commercial area received under the arrangement was assessed on the unrebutted construction cost, not guideline value under section 50C, while flats sold under earlier booking agreements were to be valued by the stamp value on the agreement date. Interest on prematurely closed fixed deposits was remanded for fresh verification. Case-Laws Income Tax Mon, 15 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404133