https://www.taxtmi.com/caselaws?id=308104 A joint development agreement is a deemed transfer under section 2(47)(v) only if it satisfies section 53A of the Transfer of Property Act, including possession in part performance and the transferee's readiness and willingness to perform. Here, the agreement described the developer's possession as permissive, the developer had not substantially performed its obligations, approvals were not obtained, and only a refundable deposit had been received. On those facts, section 2(47)(v) could not be invoked, and capital gains were not taxable in assessment year 2010-11. en-us Fri, 05 Aug 2022 00:00:00 +0530 Tue, 30 May 2023 21:08:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308104 A joint development agreement is a deemed transfer under section 2(47)(v) only if it satisfies section 53A of the Transfer of Property Act, including possession in part performance and the transferee's readiness and willingness to perform. Here, the agreement described the developer's possession as permissive, the developer had not substantially performed its obligations, approvals were not obtained, and only a refundable deposit had been received. On those facts, section 2(47)(v) could not be invoked, and capital gains were not taxable in assessment year 2010-11. Case-Laws Income Tax Fri, 05 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308104