https://www.taxtmi.com/caselaws?id=443002 An unregistered joint development agreement cannot be treated as a transfer under Section 2(47)(v) of the Income-tax Act unless it creates a legally enforceable part-performance arrangement under Section 53A of the Transfer of Property Act. After the 2001 amendments to the Registration Act and the Transfer of Property Act, a contract intended to operate under Section 53A must be registered; an unregistered agreement has no legal efficacy for that purpose. Clauses dealing with possession do not change this position. The principle applied is that capital gains consequences under Section 2(47)(v) depend on a valid, registered contract capable of attracting Section 53A. en-us Tue, 05 Sep 2023 00:00:00 +0530 Fri, 01 Mar 2024 15:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443002 An unregistered joint development agreement cannot be treated as a transfer under Section 2(47)(v) of the Income-tax Act unless it creates a legally enforceable part-performance arrangement under Section 53A of the Transfer of Property Act. After the 2001 amendments to the Registration Act and the Transfer of Property Act, a contract intended to operate under Section 53A must be registered; an unregistered agreement has no legal efficacy for that purpose. Clauses dealing with possession do not change this position. The principle applied is that capital gains consequences under Section 2(47)(v) depend on a valid, registered contract capable of attracting Section 53A. Case-Laws Income Tax Tue, 05 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443002