https://www.taxtmi.com/caselaws?id=753487 A joint development agreement coupled with an irrevocable general power of attorney can amount to a transfer under section 2(47)(vi) where it confers enforceable rights to enter the property, construct the project, and enjoy the developer's share; unregistered documents and delay in completion do not prevent capital gains from arising. For computation, land acquired before 1 April 2001 requires adoption of fair market value on that date as cost of acquisition with indexation under section 48, and the consideration may also need examination under section 50C. The capital-gain quantification was remitted for fresh determination in accordance with law. en-us Fri, 12 Jan 2024 00:00:00 +0530 Mon, 03 Jun 2024 09:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753487 A joint development agreement coupled with an irrevocable general power of attorney can amount to a transfer under section 2(47)(vi) where it confers enforceable rights to enter the property, construct the project, and enjoy the developer's share; unregistered documents and delay in completion do not prevent capital gains from arising. For computation, land acquired before 1 April 2001 requires adoption of fair market value on that date as cost of acquisition with indexation under section 48, and the consideration may also need examination under section 50C. The capital-gain quantification was remitted for fresh determination in accordance with law. Case-Laws Income Tax Fri, 12 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753487