https://www.taxtmi.com/caselaws?id=407706 A development agreement does not constitute a transfer under section 2(47)(v) unless the developer is put in possession in part performance under section 53A of the Transfer of Property Act. Here, the agreement granted only a licence to enter, while title was disputed and part of the land stood in the Government's name, so the essential ingredients of section 53A were absent and no transfer arose in assessment year 2008-09. The later registered conveyances in 2010 and 2013 showed that taxability, if any, followed the actual transfers in those later years, with earlier amounts to be adjusted accordingly. en-us Mon, 17 May 2021 00:00:00 +0530 Tue, 18 May 2021 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407706 A development agreement does not constitute a transfer under section 2(47)(v) unless the developer is put in possession in part performance under section 53A of the Transfer of Property Act. Here, the agreement granted only a licence to enter, while title was disputed and part of the land stood in the Government's name, so the essential ingredients of section 53A were absent and no transfer arose in assessment year 2008-09. The later registered conveyances in 2010 and 2013 showed that taxability, if any, followed the actual transfers in those later years, with earlier amounts to be adjusted accordingly. Case-Laws Income Tax Mon, 17 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407706