https://www.taxtmi.com/caselaws?id=795420 Income arising under a joint development agreement involving land held as stock-in-trade requires factual examination of accrual and revenue recognition; the capital-gains provision for transfer of a capital asset does not apply. Taxability of an interest-free security deposit depends on whether it was consideration, whether possession was delivered and development commenced, and the effect of termination and deposit forfeiture. As the record did not adequately establish these facts, including the agreement's current status, the addition and related taxability issues require fresh adjudication by the first appellate authority. en-us Thu, 18 Jun 2026 00:00:00 +0530 Wed, 22 Jul 2026 08:48:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795420 Income arising under a joint development agreement involving land held as stock-in-trade requires factual examination of accrual and revenue recognition; the capital-gains provision for transfer of a capital asset does not apply. Taxability of an interest-free security deposit depends on whether it was consideration, whether possession was delivered and development commenced, and the effect of termination and deposit forfeiture. As the record did not adequately establish these facts, including the agreement's current status, the addition and related taxability issues require fresh adjudication by the first appellate authority. Case-Laws Income Tax Thu, 18 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795420