https://www.taxtmi.com/caselaws?id=426342 A sale-cum-development agreement does not amount to a transfer under section 2(47)(v) unless the transferee is put in possession in part performance within section 53A of the Transfer of Property Act. Here, the agreement contemplated delivery of vacant and peaceful possession only after the developer obtained the Intimation of Disapproval, and the record showed that this approval came later with no proof of prior possession. The statutory conditions for transfer in the relevant assessment year were therefore not met, so the long-term capital gains addition could not be sustained. en-us Wed, 10 Aug 2022 00:00:00 +0530 Sat, 13 Aug 2022 08:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426342 A sale-cum-development agreement does not amount to a transfer under section 2(47)(v) unless the transferee is put in possession in part performance within section 53A of the Transfer of Property Act. Here, the agreement contemplated delivery of vacant and peaceful possession only after the developer obtained the Intimation of Disapproval, and the record showed that this approval came later with no proof of prior possession. The statutory conditions for transfer in the relevant assessment year were therefore not met, so the long-term capital gains addition could not be sustained. Case-Laws Income Tax Wed, 10 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426342