https://www.taxtmi.com/caselaws?id=418774 A registered development agreement cum GPA, coupled with irrevocable delivery of possession to the developer, was treated as effecting a transfer by part performance under section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act. The supplementary agreement was viewed as continuing the original arrangement rather than cancelling it, so the transfer was taken to have occurred when the original agreement was executed. On that basis, the capital gains were taxable in assessment year 2009-10, and the fact that the addition had been made on a protective basis did not justify its deletion once the transfer had already arisen in the earlier year. en-us Fri, 11 Feb 2022 00:00:00 +0530 Wed, 23 Feb 2022 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418774 A registered development agreement cum GPA, coupled with irrevocable delivery of possession to the developer, was treated as effecting a transfer by part performance under section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act. The supplementary agreement was viewed as continuing the original arrangement rather than cancelling it, so the transfer was taken to have occurred when the original agreement was executed. On that basis, the capital gains were taxable in assessment year 2009-10, and the fact that the addition had been made on a protective basis did not justify its deletion once the transfer had already arisen in the earlier year. Case-Laws Income Tax Fri, 11 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418774