https://www.taxtmi.com/caselaws?id=788246 Rights arising from allotment and a buyer agreement in immovable property were treated as a capital asset within the wide meaning of section 2(14) of the Income-tax Act. The transfer of those rights by agreement to sell was held to fall within the expansive scope of section 2(47), including transactions that enable enjoyment or operate through part performance. As the assessee had held and paid for the unit over a substantial period before transferring the rights, the surplus could not be assessed under the residuary head as income from other sources. The transaction was therefore chargeable under the head "Capital Gains", and the resulting long-term capital loss was allowable. en-us Fri, 30 Jan 2026 00:00:00 +0530 Thu, 19 Mar 2026 08:59:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788246 Rights arising from allotment and a buyer agreement in immovable property were treated as a capital asset within the wide meaning of section 2(14) of the Income-tax Act. The transfer of those rights by agreement to sell was held to fall within the expansive scope of section 2(47), including transactions that enable enjoyment or operate through part performance. As the assessee had held and paid for the unit over a substantial period before transferring the rights, the surplus could not be assessed under the residuary head as income from other sources. The transaction was therefore chargeable under the head "Capital Gains", and the resulting long-term capital loss was allowable. Case-Laws Income Tax Fri, 30 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788246