https://www.taxtmi.com/highlights?id=101378 A registered joint development agreement was treated as not effecting an immediate transfer for capital gains where no consideration was paid on execution and the assessee's right was only to a future 50% share in the constructed area. The arrangement was viewed as enabling the developer to obtain approvals, licences and finance, not as a transfer under part performance. On that basis, long-term capital gains were not taxable in the year of execution; the assessment was quashed, subject to verification of the year in which the share was actually offered to tax. en-us Sat, 04 Jul 2026 08:15:43 +0530 Sat, 04 Jul 2026 08:15:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=101378 A registered joint development agreement was treated as not effecting an immediate transfer for capital gains where no consideration was paid on execution and the assessee's right was only to a future 50% share in the constructed area. The arrangement was viewed as enabling the developer to obtain approvals, licences and finance, not as a transfer under part performance. On that basis, long-term capital gains were not taxable in the year of execution; the assessment was quashed, subject to verification of the year in which the share was actually offered to tax. Highlights Income Tax Sat, 04 Jul 2026 08:15:43 +0530 https://www.taxtmi.com/highlights?id=101378