https://www.taxtmi.com/caselaws?id=795431 A joint development agreement acted upon through possession enabling the developer to enter and undertake construction constitutes a deemed transfer under section 2(47)(v), notwithstanding a recital that possession was not delivered. The landowner's consideration is the constructed flats received in kind, not the developer's construction cost; capital gains are computed using the stamp duty value of the built-up area, subject to allowable indexed deductions. Under the applicable pre-amendment position, multiple flats received in the same residential project may collectively constitute a residential house for section 54/54F exemption, allowing exemption for the entire allotment and eliminating the resulting capital-gains addition. en-us Tue, 30 Jun 2026 00:00:00 +0530 Wed, 22 Jul 2026 08:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795431 A joint development agreement acted upon through possession enabling the developer to enter and undertake construction constitutes a deemed transfer under section 2(47)(v), notwithstanding a recital that possession was not delivered. The landowner's consideration is the constructed flats received in kind, not the developer's construction cost; capital gains are computed using the stamp duty value of the built-up area, subject to allowable indexed deductions. Under the applicable pre-amendment position, multiple flats received in the same residential project may collectively constitute a residential house for section 54/54F exemption, allowing exemption for the entire allotment and eliminating the resulting capital-gains addition. Case-Laws Income Tax Tue, 30 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795431