https://www.taxtmi.com/caselaws?id=303799 A joint development agreement and connected power of attorney were examined to determine whether they amounted to a transfer for capital gains purposes under Sections 2(47), 45 and 48 of the Income-tax Act, read with Section 53A of the Transfer of Property Act. The governing principle was that Section 2(47)(v) applies only when all essential ingredients of part performance are satisfied, including delivery of possession in part performance and compliance with the registration requirement where applicable. On that basis, a development arrangement alone, without a valid transfer of possession meeting Section 53A, does not establish taxable transfer. en-us Fri, 17 Feb 2017 00:00:00 +0530 Mon, 15 Aug 2022 14:08:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303799 A joint development agreement and connected power of attorney were examined to determine whether they amounted to a transfer for capital gains purposes under Sections 2(47), 45 and 48 of the Income-tax Act, read with Section 53A of the Transfer of Property Act. The governing principle was that Section 2(47)(v) applies only when all essential ingredients of part performance are satisfied, including delivery of possession in part performance and compliance with the registration requirement where applicable. On that basis, a development arrangement alone, without a valid transfer of possession meeting Section 53A, does not establish taxable transfer. Case-Laws Income Tax Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303799