https://www.taxtmi.com/caselaws?id=794387 Execution of a registered joint development agreement did not, by itself, amount to a transfer of the capital asset for capital gains purposes. The agreement only authorised the developer to undertake development, obtain approvals, arrange finance and complete construction over four years, while the owner was to receive a 50% share in the built units on completion. As no monetary consideration was paid on execution and the conditions for transfer under section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act were not satisfied in the relevant year, capital gains did not arise then and the addition of long-term capital gains was not sustainable. en-us Thu, 04 Jun 2026 00:00:00 +0530 Sat, 04 Jul 2026 08:15:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794387 Execution of a registered joint development agreement did not, by itself, amount to a transfer of the capital asset for capital gains purposes. The agreement only authorised the developer to undertake development, obtain approvals, arrange finance and complete construction over four years, while the owner was to receive a 50% share in the built units on completion. As no monetary consideration was paid on execution and the conditions for transfer under section 2(47)(v) of the Income-tax Act read with section 53A of the Transfer of Property Act were not satisfied in the relevant year, capital gains did not arise then and the addition of long-term capital gains was not sustainable. Case-Laws Income Tax Thu, 04 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794387