https://www.taxtmi.com/caselaws?id=791687 A 56-day delay in filing the appeal was condoned after the Tribunal accepted the assessee's advanced age, illiteracy, family medical hardship, death, and related difficulties faced by the legal heirs as bona fide reasonable cause. On the capital gains issue, the Tribunal held that a development agreement cum power of attorney did not amount to a transfer of immovable property because the developer received only a limited licence to enter and construct, while effective possession was deferred until delivery of the built-up area. As no deemed transfer arose in the relevant year, the capital gains addition was deleted. en-us Fri, 10 Apr 2026 00:00:00 +0530 Mon, 13 Jul 2026 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=791687 A 56-day delay in filing the appeal was condoned after the Tribunal accepted the assessee's advanced age, illiteracy, family medical hardship, death, and related difficulties faced by the legal heirs as bona fide reasonable cause. On the capital gains issue, the Tribunal held that a development agreement cum power of attorney did not amount to a transfer of immovable property because the developer received only a limited licence to enter and construct, while effective possession was deferred until delivery of the built-up area. As no deemed transfer arose in the relevant year, the capital gains addition was deleted. Case-Laws Income Tax Fri, 10 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=791687