https://www.taxtmi.com/caselaws?id=414958 Capital gains from a development agreement were treated as having accrued in the previous year ending 31.03.2014 because the agreement was executed on 06.11.2013 and the conditions of section 53A of the Transfer of Property Act were recorded as satisfied, completing a transfer within section 2(47) of the Income-tax Act, 1961. On that reasoning, taxation in Assessment Year 2016-17 was unwarranted. Because the gains were held to arise in Assessment Year 2014-15, the assessee's claim for deduction under section 54 did not survive in the year under dispute. en-us Mon, 30 Aug 2021 00:00:00 +0530 Mon, 22 Nov 2021 06:08:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414958 Capital gains from a development agreement were treated as having accrued in the previous year ending 31.03.2014 because the agreement was executed on 06.11.2013 and the conditions of section 53A of the Transfer of Property Act were recorded as satisfied, completing a transfer within section 2(47) of the Income-tax Act, 1961. On that reasoning, taxation in Assessment Year 2016-17 was unwarranted. Because the gains were held to arise in Assessment Year 2014-15, the assessee's claim for deduction under section 54 did not survive in the year under dispute. Case-Laws Income Tax Mon, 30 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414958