https://www.taxtmi.com/caselaws?id=776395 A development agreement could give rise to long-term capital gains only if the essential ingredients of transfer were established, including verified handing over of possession under section 2(47), read with section 45 and section 53A. The lower authorities had proceeded on the footing that possession was delivered, but the record required factual verification and the appellate order was non-speaking on merits. The matter was remitted to the Assessing Officer for examination of possession and related facts, and the capital-gains addition was not finally sustained. en-us Mon, 06 Jan 2025 00:00:00 +0530 Sat, 09 Aug 2025 09:32:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776395 A development agreement could give rise to long-term capital gains only if the essential ingredients of transfer were established, including verified handing over of possession under section 2(47), read with section 45 and section 53A. The lower authorities had proceeded on the footing that possession was delivered, but the record required factual verification and the appellate order was non-speaking on merits. The matter was remitted to the Assessing Officer for examination of possession and related facts, and the capital-gains addition was not finally sustained. Case-Laws Income Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776395