https://www.taxtmi.com/caselaws?id=300195 For a transfer under a joint development agreement treated as a deemed transfer, capital gains are computed by reference to the fair market value or guidance value of the consideration as on the date of the agreement, not by the future construction cost of the built-up area to be received. The Tribunal applied section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act and followed its earlier co-ordinate bench view. It upheld the appellate authority's approach and sustained the assessee's method of computing capital gains on the date-based market value. en-us Fri, 19 Aug 2016 00:00:00 +0530 Sun, 16 Jan 2022 19:15:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300195 For a transfer under a joint development agreement treated as a deemed transfer, capital gains are computed by reference to the fair market value or guidance value of the consideration as on the date of the agreement, not by the future construction cost of the built-up area to be received. The Tribunal applied section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act and followed its earlier co-ordinate bench view. It upheld the appellate authority's approach and sustained the assessee's method of computing capital gains on the date-based market value. Case-Laws Income Tax Fri, 19 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300195