https://www.taxtmi.com/caselaws?id=436091 A reassessment that had already examined a land development arrangement could not be revised under section 263 merely because the Principal Commissioner viewed section 43CA as unconsidered. The joint development agreement left ownership with the landowner, appointed the developer only for construction, and provided for allocation of constructed area after completion, so it did not by itself effect a transfer taxable on the facts found. Stamp duty treatment and registration formalities did not change the transaction's true character. The Tribunal's relief for the assessee was therefore sustained. en-us Thu, 30 Mar 2023 00:00:00 +0530 Thu, 14 Dec 2023 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436091 A reassessment that had already examined a land development arrangement could not be revised under section 263 merely because the Principal Commissioner viewed section 43CA as unconsidered. The joint development agreement left ownership with the landowner, appointed the developer only for construction, and provided for allocation of constructed area after completion, so it did not by itself effect a transfer taxable on the facts found. Stamp duty treatment and registration formalities did not change the transaction's true character. The Tribunal's relief for the assessee was therefore sustained. Case-Laws Income Tax Thu, 30 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436091