https://www.taxtmi.com/caselaws?id=788434 A joint development agreement, read with the contemporaneous power of attorney, was treated as giving the developer irrevocable rights to enter the property, construct apartments and deal with the undivided land share, so the arrangement fell within transfer under section 2(47)(v) and that finding was upheld. The Court also noted that the same capital gains had already been offered and taxed in later assessment years, with related section 54 relief granted in scrutiny assessment. In those facts, the same consideration could not be taxed again in assessment year 2005-06, and the addition was set aside subject to verification and consequential adjustment to avoid double taxation. en-us Thu, 05 Feb 2026 00:00:00 +0530 Sat, 21 Mar 2026 08:29:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788434 A joint development agreement, read with the contemporaneous power of attorney, was treated as giving the developer irrevocable rights to enter the property, construct apartments and deal with the undivided land share, so the arrangement fell within transfer under section 2(47)(v) and that finding was upheld. The Court also noted that the same capital gains had already been offered and taxed in later assessment years, with related section 54 relief granted in scrutiny assessment. In those facts, the same consideration could not be taxed again in assessment year 2005-06, and the addition was set aside subject to verification and consequential adjustment to avoid double taxation. Case-Laws Income Tax Thu, 05 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788434