https://www.taxtmi.com/caselaws?id=781453 A registered joint development agreement transferring development rights was treated as a transfer of a capital asset, so capital gains became chargeable in the year of execution and registration because legal control and possession under section 53A of the Transfer of Property Act, 1882 had passed to the developer, even though physical possession of the constructed area was not yet received. The computation also had to allow indexed cost of acquisition, and cost of improvement if any, for correct recomputation of capital gains. The result was partial relief through remand for fresh computation on that basis. en-us Wed, 12 Nov 2025 00:00:00 +0530 Sat, 15 Nov 2025 07:56:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781453 A registered joint development agreement transferring development rights was treated as a transfer of a capital asset, so capital gains became chargeable in the year of execution and registration because legal control and possession under section 53A of the Transfer of Property Act, 1882 had passed to the developer, even though physical possession of the constructed area was not yet received. The computation also had to allow indexed cost of acquisition, and cost of improvement if any, for correct recomputation of capital gains. The result was partial relief through remand for fresh computation on that basis. Case-Laws Income Tax Wed, 12 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781453